According to data from the socio-economic report for July 2026 of the General Statistics Office, Vietnam's cashew export turnover in the first seven months of the year reached approximately $2.9 billion, an increase of 3.3% compared to the same period in 2025. Conversely, cashew nut imports reached approximately $3.2 billion, an increase of 10%. Thus, the import value was about $300 million higher than the export value. Notably, the growth rate of import value was approximately three times higher than that of exports. Nearly 1 million tons of goods from Cambodia were just imported by Vietnam with zero import tax – a treasure! This will help Vietnam export more than the whole world combined. Cambodia supplies more than half of Vietnam's cashew imports. Cambodia continues to be the largest supplier of cashew nuts to Vietnam. In the first seven months of the year, Vietnam imported nearly 1 million tons of cashew nuts from this market, worth approximately $1.7 billion, a 24% increase compared to the same period last year. This market accounts for 54% of the total volume and 56% of the total value of cashew imports. Besides Cambodia, Vietnamese businesses also import cashew nuts from many African countries such as Ivory Coast, Tanzania, and Nigeria. Vietnam is currently one of the world's largest centers for processing and exporting cashew kernels. However, domestic raw material sources only meet a fraction of the factories' needs, forcing businesses to import large quantities of raw cashews, which are then processed into cashew kernels and other cashew products for export. The major consumer markets for Vietnamese cashews currently include the US, China, and Europe. Therefore, the value of raw material imports is also an important indicator reflecting the scale of operations in the processing industry. The Deputy Secretary General of the Vietnam Cashew Association (VINACAS) stated that it is impossible to conclude that the cashew industry is experiencing a trade deficit simply based on the difference between import and export turnover at a given time. Due to seasonal factors, this gap primarily reflects the cycle of raw material procurement and product sales. According to VINACAS, the cashew harvest season in Cambodia and many African countries runs from February to June, forcing Vietnamese businesses to increase imports to stockpile raw materials for the entire year. In 2026, the cashew harvest will be later than usual, causing raw material procurement to extend into May and June. Meanwhile, imported raw cashews need to go through many stages such as steaming, shelling, processing, sorting, and packaging before becoming exportable cashew kernels. Therefore, the middle of the year is usually the period when businesses spend heavily on raw materials, but export turnover does not increase correspondingly. A representative from VINACAS stated that global demand for cashews typically increases towards the end of the year, especially in the US and Europe during the holiday season and Christmas. At that time, the amount of processed cashew kernels made from previously imported raw materials will be exported in large quantities, thereby narrowing the trade deficit. Furthermore, cashew nuts from Cambodia benefit from their geographical proximity to Vietnam, shortening transportation times and facilitating processing for businesses. In 2026, Vietnam will also continue to apply trade mechanisms for certain Cambodian-origin goods under the bilateral trade promotion agreement for the 2025-2026 period. The Ministry of Industry and Trade has issued Circular 06/2026/TT-BCT on import tariff quotas to implement this agreement, effective from February 12, 2026. Nearly 1 million tons of goods from Cambodia were just imported by Vietnam with zero import tax – a treasure! This will help Vietnam export more than the whole world combined. Exports are increasing, but raw material supply pressure remains high. The figures of $2.9 billion in exports and $3.2 billion in imports highlight a notable characteristic of Vietnam's cashew industry: large-scale exports coupled with significant dependence on external raw material sources. Therefore, the 3.3% increase in exports does not fully reflect the performance of the entire industry. Fluctuations in raw cashew prices, import costs, and the ability to maintain a stable supply directly affect the operations of processing businesses. If raw material prices rise faster than the selling price of cashew kernels on the international market, export turnover may still increase, but the profit margins of businesses will be put under pressure. Conversely, a stable supply of raw cashews at suitable prices will help factories maintain capacity and fulfill export orders. The first seven months of the year show that the cashew industry is growing in two directions: exports continue to rise but at a relatively modest pace, while raw material imports are increasing significantly faster. In the remaining months of the year, besides purchasing power in export markets, the price of raw cashews and supply from major markets such as Cambodia will be key factors for domestic processing businesses.