China and US take nearly 46% of Vietnam’s cashew export value
Vietnam exported 341,400 tonnes of cashews worth $2.4 billion in the first half of 2026. China and the United States accounted for nearly 46% of that value, while higher average prices offset a slight decline in total volume.
Higher prices support export revenue
Vietnam exported 341,400 tonnes of cashews worth $2.4 billion in the first six months of 2026, according to VietnamBiz, citing the Import-Export Department of the Ministry of Industry and Trade and Vietnam Customs. Compared with the same period of 2025, volume declined 0.9%, while value increased 2%.
The divergence reflected stronger export prices. Vietnam’s average cashew export price reached $7,014.8 per tonne during the six-month period, up 3% year on year. The price improvement was sufficient to offset the modest contraction in shipments and keep overall export earnings growing.
In June alone, exports totaled 73,020 tonnes with a value of $517.7 million. Volume fell 1.5% and value declined 2.1% from May. Against June 2025, however, shipments rose 7.5% and revenue increased 11.7%. The average June export price was $7,089.5 per tonne, down 0.6% month on month but up 3.9% year on year.
China and the US remain the principal markets
China and the United States together generated nearly 46% of Vietnam’s cashew export value in the first half of 2026, leaving the industry highly exposed to demand and trade conditions in two markets. China ranked first, importing 81,150 tonnes worth $585.14 million. It represented about 23.8% of Vietnam’s export volume and 24.4% of export value.
Shipments to China decreased 2.2% from the first half of 2025, but their value rose 11.5%, indicating a substantial improvement in unit returns. The United States was the second-largest destination, receiving 75,700 tonnes valued at $514.7 million. Exports to the US increased 8% by volume and 8.3% by value year on year.
Growth in several medium-sized and European markets provided some diversification. Exports to Canada rose 59.6% in volume and 59% in value, while shipments to Thailand increased 60.1% and 54.8%, respectively. Australia recorded gains of 12.3% in volume and 14.1% in value.
European demand shifts and processing margins tighten
Within Europe, shipments through the Netherlands, an important distribution gateway for the European Union, fell 9.6% by volume and 10.2% by value. Direct exports to major consumer markets performed more strongly: volumes to Germany increased 21.3% and value rose 23.4%, while exports to Spain gained 23.1% in volume and 20% in value. Shipments to the United Kingdom declined 4.9% by volume and 5% by value.
Exports to Saudi Arabia also fell, dropping 14.2% in volume and 12.4% in value. The Import-Export Department said tensions in the Middle East had partly affected cashew trade with some regional markets.
The department expects stable consumption in Vietnam’s main destinations to continue supporting exports during the remainder of 2026. The outlook nevertheless depends on raw cashew prices, logistics costs and the trade policies of importing countries. High raw-nut prices are already increasing input costs and narrowing margins for Vietnamese processors, making control of raw-material supplies, product quality, technical compliance and deeper processing increasingly important for competitiveness.
