Cashew processing assembly at Duc Thinh Trade and Production Company (former Binh Phuoc province) (photo: VNA)

To hit this target, the sector must generate around 2.2 billion USD in the second half. Figures from the first six months show cashew exports reached 346,800 tonnes, earning 2.36 billion USD, a drop of 2.7% in volume but a surge of 20.4% in value annually. The rise was largely attributed to a significant increase in export prices, which helped offset lower shipment volumes.

To sustain growth, the ministry is calling for stepped-up efforts to tap into emerging markets with strong demand, including the UAE and Saudi Arabia. The EU, now Vietnam’s third-largest cashew market, has also shown consistent growth in recent years.  In 2024, Vietnam exported a record 730,000 tonnes of cashews, earning 4.37 billion USD, a year-on-year increase of 20.2%.