HCMC – Vietnam’s cashew industry posted a trade deficit of about US$370 million in the first quarter, according to the Department of Vietnam Customs.
Preliminary data showed cashew exports reached 125,492 tons worth US$860.6 million in January–March, with an average price of US$6,858 per ton.
Cashew imports totaled 732,648 tons, valued at more than US$1.23 billion, at an average price of US$1,679 per ton. Therefore, the cashew sector had a trade deficit of US$369.4 million.
Dang Hoang Giang, general secretary of the Vietnam Cashew Association (VINACAS), attributed the deficit to seasonal factors. The first quarter marks the harvest period, when companies increase purchases of both domestic and imported raw cashews for processing throughout the year, mainly from West Africa and Cambodia.
He noted the gap between export and import prices reflects differences in product types. Imports consist of raw cashew nuts, while exports are processed kernels and higher-value products.
Margins remain limited due to high input and processing costs. Producing one ton of cashew kernels requires about four to five tons of raw nuts, depending on quality.
Despite the deficit, the large volume of imported raw materials underscores the country’s role as a global processing hub for cashew products.
Domestic raw cashew output is estimated at 300,000–350,000 tons annually, leaving the sector reliant on imports as cashew farming competes with other crops.
The industry targets US$5 billion in export revenue in 2026.
