Import prices for raw cashew nuts are rising significantly faster than export prices for cashew kernels, which is causing considerable problems for processors in Viet Nam. Côte d'Ivoire has increased its shipments to the EU by almost a third.

To the point of insolvency

In its latest report, the Viet Nam Cashew Association (Vinacas) highlights the difficulties faced by the Vietnamese cashew industry in terms of both imports and exports. At the recent International Cashew Conference in Hanoi, one of the topics discussed was the differing price trends facing exporters. 80% of the cashew nuts exported worldwide come from Viet Nam, but the problem is that the commodity prices for imported goods are rising faster than the export prices for cashew kernels. As a result, many processing companies have already suffered heavy losses, and some have even had to file for insolvency.

The US market also continues to cause headaches for suppliers. Due to the tariffs introduced by Trump, prices for Vietnamese cashews cannot be increased appropriately, as suppliers are concerned that American consumers will then turn away. However, this means that no profit can be made, which will not be sustainable in the long term. Price increases on the US market are therefore likely to occur in the new year at the latest.

Africa wants to process on its own

Viet Nam currently needs a good 3.5 million mt of RCN per year for further processing. However, as the country itself only produces around 300,000 mt, processors are dependent on high imports, mainly from African sources. Here, too, there are repeated hurdles, as many countries of origin have now imposed import bans on raw materials in order to promote processing in their own countries and thus increase value. According to Vinacas, these decisions have a significant impact on the cashew processing industry in Viet Nam, because if there is a shortage of raw materials or high import prices, more businesses will have to close. So far, only about 15% of the cashew nuts harvested in Africa are processed locally, with the remaining 85% exported as RCN. The main buyers are Viet Nam and India.

Germany significantly increases imports

EU cashew imports rose by a moderate 1.7% compared to last year. Between 1 January and 26 October 2025, a total of 153,619 mt cashews were imported, with Viet Nam being by far the most important supplier. Côte d'Ivoire follows in second place, increasing its shipments to the EU by an impressive 32%. India, meanwhile, has seen a decline of 14.3%.

The most important customer within the EU is Germany, which increased its imports by 23% to 51,300 mt during the period mentioned. It is followed by the Netherlands (-13.8% to 47,010 mt) and Spain (+3.3% to 14,570 mt). The average import price has risen by 18.4% compared to last year, bringing the total import value to date to a good EUR 987 million.

Source: Mundus Agri