Vietnam's Raw Cashew Imports Hit Record Highs Amid Strong Processing Demand

Vietnam has spent over $3 billion on raw cashew nut imports as of mid-July, marking the highest level on record for the same period. Customs data reveals that during this period, import volume increased by 4% to 1.81 million metric tons, while import value rose by 12.3% compared to the same period last year. Cambodia remains Vietnam's primary supplier, accounting for 54.2% of the total import volume and 56.3% of the total import value. Imports from Cambodia saw a 10.3% increase in volume to 980,700 tons and a 25.9% rise in value, exceeding $1.7 billion. Vietnam is the world's largest exporter of cashew kernels. However, domestic raw material supplies meet only a portion of the processing industry's demand, compelling businesses to import large volumes of raw cashew nuts. The processed cashew kernels and other products are then exported to major markets including the U.S., China, and Europe. During the same period, Vietnam exported approximately 373,800 metric tons of cashew products, generating nearly $2.63 billion in export revenue. While export volume saw a slight decrease compared to the previous year, export value increased by 3.1%. With import value surpassing export value, Vietnam's cashew industry continues to record a trade deficit, indicating strong demand for processing materials while domestic supply falls short of the country's processing capacity.