In just a few years, Cambodia has rapidly emerged as the world’s second-largest producer of raw cashew nuts. Meanwhile, Vietnam has spent over $1 billion to purchase nearly the entire Cambodian cashew output.

Cambodia’s rapid rise in the cashew industry

According to the Cambodian Cashew Association (CAC), the country’s cashew exports reached $1.15 billion in 2024, marking a 31% increase from the previous year. Of this, around 90% was exported to Vietnam.

Notably, Cambodia’s cashew production surged to 850,000 tons in 2024, a 26% rise from 2023, securing its position as the world’s second-largest raw cashew producer.

Cashew has now joined the ranks of Cambodia’s high-value agricultural exports alongside rice, rubber, cassava, palm oil, bananas, mangoes, longans, and pepper. Some of these agricultural products are not only heavily exported to Vietnam but also compete directly with Vietnamese goods in international markets.

Vietnam: The top buyer of Cambodian cashews

Data from Vietnam’s General Department of Customs shows that in 2024, Vietnamese enterprises spent $1.07 billion to purchase nearly 820,000 tons of raw cashews from Cambodia. Compared to 2023, imports from Cambodia increased by 33.5% in volume and 27.4% in value.

Cambodian cashews accounted for 33.2% of Vietnam’s total raw cashew imports, solidifying Cambodia’s position as Vietnam’s largest supplier. This steady supply helps Vietnamese processors maintain production and export stability, reinforcing Vietnam’s status as the world’s top cashew kernel supplier for the 18th consecutive year.

In 2024, Vietnam exported approximately 723,800 tons of cashew kernels, generating a record-breaking $4.34 billion in revenue.

This represents a 12.4% increase in export volume and a significant 19.2% rise in value compared to the previous year, marking the highest figures since Vietnam entered the global cashew market.

Tam An