"From Cambodia to Vietnam: Cashew Trade Hits New Heights"

Vietnam significantly increased its imports of raw cashew nuts from Cambodia during the first seven months of the year. 

The industry's ambitious export goal remains its primary focus. Not yet broken record To retain its title as the world's largest exporter of cashew nuts, Vietnam is dependent on large quantities of raw material imports.  According to the Vietnam Cashew Association (Vinacas), the import value for the first seven months of the year was 1.39 billion USD, representing a sharp increase of 37.6% compared to the same period last year. 

The majority of the goods come from Cambodia. Import turnover from 2022, 2023 and 2024 has been far exceeded, with only the previous record of USD 1.87 billion set in 2021 remaining out of reach.  RCN from Cambodia thus account for 47.4% of Vietnam's import value for this product.  Additionally, cashews from Ghana, Tanzania, and Côte d'Ivoire were brought in for USD 221 million, USD 433 million, and USD 224 million, respectively. Special arrangement for Cambodia

According to Vinacas, the cashew industry's goal is to generate an export value of USD 4.5 billion.  However, producers must continue to raise product quality and expand into new markets in order to achieve this objective. To meet production requirements, further promotion of RCN imports is also required. In July, Vietnamese companies exported 65,000 mt of cashews worth USD 437.7 million, bringing total exports since the beginning of the year to 409,600 mt worth USD 2.79 billion.  Exports decreased by 3.3% year-over-year in terms of volume, but export value increased by 17.4% as a result of higher prices. The average export price during the period was just under USD 6,800/mt.

The Vietnamese Ministry of Finance recently published a circular providing for a special preferential tax on imports from Cambodia.  Shipments to Vietnam will therefore be taxed at 0%, which applies to cashew nuts, coconuts, Brazil nuts, dates, figs, rice and many other products.  The aim is to boost production in Vietnam without burdening producers with unnecessary costs.  The import tax from countries that do not belong to the Association of Southeast Asian Nations (ASEAN) is usually 5%.

Prices in India remain stable

In India, another important cashew producer, there has been little change in recent weeks.  W320 cashews are currently trading at 8,080 USD/mt FOB India, indicating that prices have remained stable for the past month.