Vietnam spends more than 2 billion USD importing cashew nuts

Statistics from the Customs Department show that imports cashew Imports to Vietnam in May reached more than 283 thousand tons with a value of more than 434 million USD, down 41% in volume and 40.7% in value compared to the previous April.

In the first 5 months of the year, our country imported 1.32 million tons of cashew nuts with a value of more than 2.07 billion USD, an increase of 9.1% in volume and 39.9% in value over the same period in 2024.

In contrast, cashew nut exports reached 1.88 billion USD. Although up 19.4% compared to the same period last year, the cashew industry, an export strength, returned to a trade deficit. Notably, Cambodian cashew nuts flowing into Vietnam increased dramatically compared to previous years.

In terms of market, Cambodia is the largest cashew nut supplier to Vietnam with more than 873 thousand tons, worth more than 1.3 billion USD, up 15% in volume and 37% in value compared to the same period in 2024. The average import price also grew by 19%, reaching an average of 1,517 USD/ton.

Notably, although only 5 months, the figure of 1.32 billion USD has far exceeded the import turnover of cashew nuts from Cambodia in 2024 (1.07 billion USD) and is only lower than the import turnover of the whole year of 2021 (1.87 billion USD). Currently, Cambodian cashew nuts account for nearly 63% of the total import turnover of this item in Vietnam.

Tanzania was the second largest supplier with over 133,000 tonnes, worth over US$242 million, up 93% in volume and 179% in value year-on-year. Prices increased by 45%, reaching US$1,822 per tonne.

Ranked third among cashew nut suppliers to Vietnam is Nigeria with more than 69 thousand tons, worth more than 106 million USD, up 67% in volume and 138% in value over the same period. Import prices also increased sharply by 42%, reaching 1,533 USD/ton.

In fact, in recent years, more than 90% of Cambodia's raw cashew nuts have been exported to Vietnam.

Vietnamese enterprises prefer to import cashew nuts from Cambodia due to its logistics advantages. A shipment from Cambodia to Vietnam only takes 1-2 days, and the shipping cost is relatively low compared to the shipping cost by sea when importing from other countries.

Meanwhile, Cambodian cashew suppliers can also collect payment quickly after only 1-2 days. From there, creating a buying and selling relationship between businesses of the two countries.

Source: https://baoquangninh.vn/viet-nam-chi-hon-2-ty-usd-nhap-khau-hat-dieu-3363156.html