Vietnam Cashew Market Intelligence | July 3rd, 2026
The Market Is No Longer Waiting. It Is Beginning to Rebalance.
One month ago, the dominant theme across the cashew industry was caution.
Buyers delayed purchases.
Factories focused on protecting cash flow.
Sellers adjusted offers to stimulate demand.
Today, the market feels different.
Not because prices have surged.
But because participation is gradually returning.
The conversation is shifting from uncertainty to execution.
Global Trading Activity Is Improving
International trading activity has become more active compared with the previous month.
Import demand for cashew kernels is recovering across several consuming markets, including:
Germany
The Netherlands
Spain
Thailand
Canada
While buying remains selective, the number of inquiries and completed transactions has increased, suggesting that confidence is gradually returning to the supply chain.
Vietnam Continues to Expand Raw Cashew Imports
Vietnam imported approximately 1.45 million metric tons of raw cashew nuts during the first five months of 2026, an increase of around 12% compared with the same period last year.
Africa remains Vietnam’s primary sourcing region, but the balance among origins is changing.
Tanzania
154,153 MT
+16% year-on-year
Tanzania has become Vietnam’s largest supplier, supported by stable production and competitive export capacity.
Côte d’Ivoire
107,090 MT
+93% year-on-year
This is the strongest growth among major exporting countries.
Beyond raw cashew exports, Côte d’Ivoire is also expanding its kernel processing industry, signaling a broader move up the value chain.
Nigeria
49,507 MT
-29%
Ghana
28,129 MT
-51%
Lower crop volumes and tighter controls on informal cross-border trade have reduced export availability.
Meanwhile, Benin and Burkina Faso continue selling remaining inventories while expecting stronger international demand during the second half of the year.
Kernel Market Continues to Recover
Kernel trading has become noticeably more active.
Export prices increased by approximately 1–1.5% this week.
Compared with recent lows, many kernel grades have recovered by around 3–5%.
However, the recovery is not uniform.
Premium grades such as:
WW210
WW240
Large White Pieces (LWP)
have strengthened faster than standard grades.
WW320 has improved more gradually.
Kernel pieces remain relatively unchanged.
This suggests that buyers are prioritizing premium products rather than rebuilding inventories across all grades.
Raw Cashew Prices Remain Firm
Following last week’s increase, raw cashew prices have largely stabilized.
Several offers for 46 lbs Côte d’Ivoire RCN are now above USD 1,500/MT CNF Vietnam.
Most sellers appear reluctant to reduce prices, reflecting continued confidence in the second half of the year.
Supply and Demand Are Moving Back Toward Balance
Several developments point toward a healthier market structure:
Buyers are returning with genuine inquiries.
Sellers are no longer under pressure to liquidate inventories.
Kernel prices continue improving while RCN prices remain firm.
This does not necessarily indicate a bullish market.
It indicates a market that is gradually finding equilibrium after an extended period of uncertainty.
Market Insight
The most important development today is not simply whether prices rise or fall.
It is how supply chains are changing.
Tanzania and Côte d’Ivoire continue expanding their presence in Vietnam’s sourcing portfolio.
Nigeria and Ghana are contributing smaller volumes than in previous years.
At the same time, kernel demand is recovering in Europe and several other key consuming markets.
If these trends continue, competition may gradually shift away from finding the lowest price and toward securing reliable origin, consistent quality, and dependable shipment execution.
Personal Observation
The key question is no longer whether USD 1,500/MT is a high price for raw cashew.
The more important question is whether processors can maintain acceptable crushing margins while kernel demand continues to recover.
If kernel prices continue improving and RCN prices remain firm, processing economics—not market sentiment—will determine the pace of raw material purchasing during the coming weeks.
In the next phase of the market, profitability will depend less on predicting prices and more on understanding the relationship between kernel demand, processing margins, and raw material procurement.
Current Availability
If you are looking for nearby cargo or market support, current availability includes:
NW ex Ghana: 4 containers in stock
Bonded RCN: Crop 2025
Bonded RCN: Crop 2026
Support available for:
RCN sourcing
Cashew kernel trade
Middle East market access
More market insights:
START HERE
Disclaimer
This article reflects market observations, industry discussions, and practical trading experience. It is intended for informational and discussion purposes only and should not be considered commercial, financial, or investment advice.
Ho Quang Binh
Vietnam Cashew Specialist
RCN Sourcing | Kernel Trade | Africa–Vietnam Market Access
WhatsApp: +84 909 226 739
Email: kevin.quangbinh@gmail.com
Website: https://codebanthe.com/