Vietnam raw cashew imports exceed $3B in almost 7 months

As of July 15, Vietnam had imported 1.81 million metric tons of raw cashew nuts, marking a 4% increase in volume and a 12.3% rise in value compared to the same period last year. Cambodia was Vietnam's largest supplier, contributing 54.2% of the total import volume and 56.3% of the total import value. In July, Vietnam imported 980,700 tons of cashew nuts from Cambodia, with a value of over $1.7 billion, a 10.3% increase in volume and a 25.9% rise in value.

Vietnam stands as the world's leading exporter of cashew kernels. However, domestic supplies of raw materials only partially satisfy the processing industry's needs, compelling businesses to import substantial quantities of raw cashew nuts. After undergoing preliminary processing and manufacturing into cashew kernels and other cashew products, these goods are exported to significant markets such as the U.S., China, and Europe.

According to Customs Department data, as of July 15, Vietnam had exported approximately 373,800 metric tons of cashew products, generating nearly $2.63 billion in export revenue. This export volume was slightly down compared to the same period last year, while the export value increased by 3.1%. The cashew industry in Vietnam continued to report a trade deficit, as the import value surpassed the export value.

This trade deficit persisted despite a robust demand for processing materials, and the ongoing shortfall of domestic supply relative to the country's processing capacity.