CAC News
Kampong Thom, Cambodia, June 7 — Vietnam has maintained its position as the world's leading cashew processor and exporter, accounting for approximately 80% of global cashew kernel exports, according to the Vietnam Cashew Association (VINACAS).
The country's cashew industry recorded solid growth in the first quarter of 2026 despite ongoing global economic and geopolitical uncertainties. VINACAS reported that Vietnam exported 139,865 metric tons of cashew kernels during the January–March period, an increase of 11.8% compared with the same period last year. Export earnings reached USD 953.5 million, up 10.9% year-on-year.
The average export price for Vietnamese cashew kernels stood at around USD 6,802 per metric ton during the quarter, reflecting relatively stable market conditions despite rising production and logistics costs.
A significant shift in global demand has seen China overtake the United States as Vietnam's largest single export market. In 2025, China accounted for 19.6% of Vietnam's cashew kernel export volume, with strong purchasing momentum continuing into 2026 as buyers replenish inventories and consumption rebounds.
Despite the positive performance, VINACAS has adopted a cautious outlook for the year ahead. The association has set a 2026 export target of USD 5 billion, lower than the USD 5.43 billion achieved in 2025, citing concerns over geopolitical tensions and disruptions to major shipping routes and key consumer markets, particularly in the Middle East.
Global demand for cashews remains robust. According to the International Nut and Dried Fruit Council's (INC) Global Statistical Review 2025, cashews accounted for 18% of total tree nut consumption worldwide in 2024, with Asia representing nearly half of global demand at 47%.
Meanwhile, international cashew prices have remained firm throughout 2026. Market participants report that both raw cashew nuts (RCN) and processed kernels continue to command strong prices despite expectations of larger harvests across Africa.
Industry analysts attribute the market's resilience to strong processor demand, inventory rebuilding by international buyers, and improving consumer spending in major importing countries. Processed cashew kernels are currently trading above USD 8,000 per metric ton in several key markets.
Cambodia continues to play a critical role in the global cashew supply chain as one of the largest suppliers of raw cashew nuts to Vietnam's processing industry. The close trade relationship between the two countries remains an important factor supporting Vietnam's dominant position in the global market.
With demand remaining healthy and inventories tightening in several markets, industry observers expect cashew prices to remain well supported through the remainder of 2026, although geopolitical developments and logistics challenges will continue to be closely monitored.
