In July and August this year, some countries will enter the end of the cashew nut harvest period, and global cashew nut prices are expected to rebound. The EVFTA signed by Vietnam and the EU will help Vietnam achieve breakthrough growth in cashew exports in the future.

2025/07/0913:44:36 hotcomm 1553

According to Vietnamese media reports, in July and August this year, some countries will enter the end of the cashew nut harvest period. It is expected that global cashew nut prices will resume rebounding. The EVFTA signed by Vietnam and the EU will help Vietnam achieve breakthrough growth in cashew exports in the future.

Vietnam and the EU officially signed the "EU-Vietnam Free Trade Agreement" (EVFTA) on June 30 this year. According to the agreement, from the third to seventh year of EVFTA, EU countries will reduce cashew tariffs to 0%.

From early this year to June 15 this year, Vietnam's cashew exports increased, but exports fell slightly. According to analysis, the reason is that during this period, Vietnam had shortage of cashew nuts in domestic supply, and cashew nuts were needed to import from African countries to serve domestic production and processing needs. However, due to its unguaranteed quality, the sale price has dropped.

The Import and Export Bureau of the Ministry of Industry and Trade of Vietnam stated that in the next few months, Christmas and Thanksgiving will promote the increase in demand for cashews by consumers, and global cashews prices will resume growth.

According to survey data, in 2018, Vietnam ranked first in the world in terms of processing and export volume of cashew nuts, with 1.65 million tons and 391,000 tons respectively, with an export volume of US$3.52 billion. It is estimated that the export volume of cashew nuts in Vietnam will remain at 350,000 tons in 2019. Vietnamese cashews have been exported to 90 countries and regions in the world, among which the United States is the largest export market for cashews in Vietnam (32%), the Chinese market accounts for 13%, and the EU and other markets account for 55%.

Pingfu Provincial is Vietnam's largest province in the production and export of cashew nuts. The province's Department of Industry and Trade stated that Germany and the Netherlands are important markets in the EU market. The province will encourage enterprises to make full use of the opportunities brought by EVFTA, while actively grasping information to further meet the needs of importers.

Source: Vietnam People's Daily, Vietnam News Agency

Comprehensive: He Xiaoqin

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