China Overtakes US as Top Importer of Vietnamese Cashews

According to the Vietnam Cashew Association (Vinacas), data from the General Department of Vietnam Customs show that Vietnam exported 68,000 metric tons of cashews in July 2025, generating $460 million in revenue. These numbers correspond to year-on-year increases in export volume and export value of 1.3% and 11%, respectively.

Over the first seven months of the year, total exports reached 413,000 metric tons, valued at $2.8 billion — an 18.3% year-on-year increase in value. The average export price during this period reached $6,805 per metric ton, a 21.4% increase over the same period of last year and the highest price in recent years — reflecting the rising global demand for nuts.

In the first seven months of 2025, China, the United States and the Netherlands remained Vietnam’s top three cashew export markets, accounting for 23.2%, 20.1% and 9.1%, respectively, of the total export volume. Notably, China surpassed the United States to become Vietnam’s largest cashew export market. During this period, Vietnam exported 96,000 metric tons of cashews to China, valued at $608 million — a 29% increase in volume and a 47% increase in value year on year. In July alone, China imported over 13,000 metric tons worth almost $83 million, accounting for nearly one-fifth of Vietnam’s total cashew exports that month.

According to Vietnam’s Ministry of Industry and Trade, the surge in exports to China has been driven by the country’s economic recovery, growing demand for healthy agricultural products, and the proactive efforts of Vietnamese exporters to meet the evolving requirements of the Chinese market.

By contrast, exports to the United States have declined sharply. In the first seven months of 2025, Vietnam exported 83,000 metric tons of cashews to the United States, valued at $561 million — a 27.5% drop in volume and an 11.7% decline in value compared with the same period of last year. This reduction is mainly attributable to retaliatory tariffs imposed by the U.S. government, which raised duties to 20%. The increased cost has eroded Vietnam’s price competitiveness, prompting importers to reduce their orders or shift sourcing to other countries such as Côte d’Ivoire and Brazil.

Data from the U.S. International Trade Commission confirm that Vietnam remains the country’s largest cashew supplier, holding over 87% of the market share, despite a 10% drop in export volume. However, the average import price of Vietnamese cashews to the United States has climbed to $6,941 per metric ton, which is significantly higher than prices from other sources, making them harder to sell.

Vinacas noted that the growing trend toward healthier snacking is boosting demand and helping Vietnamese cashew kernels maintain a competitive edge. Vietnam has remained the world’s largest exporter of cashew kernels for 18 consecutive years, accounting for over 80% of global exports. In 2024, cashew exports reached 730,000 metric tons, valued at $4.37 billion — a 20.2% increase in export value compared with 2023.

Given the current growth trajectory, Vietnam’s 2025 export target of $4.5 billion is considered achievable — especially with seasonal demand typically surging during Christmas and China’s Mid-Autumn Festival in September or October.

Despite strong performance, Vietnam’s cashew industry faces significant challenges. The United States and the European Union are enforcing increasingly strict standards for traceability, pesticide residues and sustainable production. In the United States, tariff advantages and price competition from African countries — particularly Côte d’Ivoire — could further erode Vietnam’s market share.

Image: Unsplash

This article was translated from Chinese. Read the original article.