Cashews: crop achieves historical high
March 17, 2026 at 4:49 PM ,
Der AUDITOR
Almost 6.4 million mt
Global supplies of raw cashews are expected to remain at a high level in the 2025/26 season. With deliveries of the Northern Hemisphere crop largely completed by the end of 2025, estimates were subsequently revised upwards. The Southern Hemisphere is also recording significant growth: production is around 13% above last year's level, with Tanzania playing a leading role with an increase of over 18%. In Brazil, however, the trend is mixed: whilst the 2024/25 crop delivered strong results, production in 2025/26 remained unexpectedly weak. Overall, the global crop has reached a historic high of just under 6.4 million mt of raw cashew nuts, according to the International Nut and Dried Fruit Council (INC) in its latest report.
Raw material availability for processing remained stable. The East African croparrived in key processing markets such as Vietnam and India in early 2026 and is expected to meet demand in Q1 until new goods from the Northern Hemisphere become available. According to estimates by the African Cashew Alliance, the outlook for the upcoming Northern Hemisphere crop is positive overall. Weather-related disruptions in Cambodia had normalised before flowering, whilst conditions in Ghana, which had previously been affected by early rains, have also stabilised.
Stable demand trends
Overall, demand for RCN remained firm in 2025. This was driven by rising exports of cashew kernels from Vietnam and higher consumption in India. Vietnam continued to source RCN mainly from Cambodia and Côte d'Ivoire. Vietnamese cashew kernel exports were around 3% above last year's level by the end of 2025, supported by stronger demand from China, West Asia and the EU. In India, the festival season boosted domestic demand. European buyers showed increased interest in forward purchases due to a stronger euro. In the US, the removal of import duties on raw cashew kernels led to increased demand and rising spot prices.
At the start of 2026, however, purchasing activity in the US and the EU was more subdued, as market players awaited greater clarity regarding the new crop. In Asia, demand weakened, particularly following the conclusion of purchases for the Chinese New Year. In contrast, Japan and South Korea remained active and secured volumes for short-term requirements, as reported by the INC.
|
Global cashew production (RCN), in mt |
|||
|
Country |
2024/25 |
2025/26 |
Diff. |
|
Côte d'Ivoire |
1,200,000 |
1,500,000 |
25.0% |
|
Cambodia |
800,000 |
930,000 |
16.3% |
|
India |
615,000 |
725,000 |
17.9% |
|
Tanzania |
425,000 |
500,000 |
17.6% |
|
Nigeria |
282,000 |
370,000 |
31.2% |
|
Vietnam |
340,000 |
320,000 |
-5.9% |
|
Guinea-Bissau |
240,000 |
300,000 |
25.0% |
|
Benin |
250,000 |
300,000 |
20.0% |
|
Ghana |
275,000 |
275,000 |
0.0% |
|
Burkina Faso |
145,000 |
250,000 |
72.4% |
|
Guinea Conakry |
145,000 |
200,000 |
37.9% |
|
Togo |
105,000 |
145,000 |
38.1% |
|
Mozambique |
140,000 |
140,000 |
0.0% |
|
Brazil |
160,400 |
136,000 |
-15.2% |
|
Indonesia |
110,000 |
110,000 |
0.0% |
|
Senegal |
45,000 |
70,000 |
55.6% |
|
Gambia |
25,000 |
35,000 |
40.0% |
|
Mali |
2,000 |
5,000 |
150.0% |
|
Kenya |
5,000 |
5,000 |
0.0% |
|
Others |
56,600 |
67,300 |
18.9% |
|
Total |
5,366,000 |
6,383,300 |
19.0% |
|
INC, March 2026 |
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EU imports up slightly
EU cashew imports since the start of the year stand at 34,863 mt, 2.2% above last year's level. Vietnam remains by far the largest supplier, having managed to maintain its delivery volume almost unchanged compared with the same period in 2025, followed by Côte d'Ivoire (+13.2%) and India (-8.4%). The largest buyer within the EU is Germany with 14,740 mt, followed in second and third place by the Netherlands and Italy with 10,590 mt and 2,830 mt respectively. The average import price so far this year has been 6.27 EUR/kg, a moderate 1.3% below the 6.35 EUR/kg recorded in the same period last year.
|
EU cashew imports, in mt |
|||
|
Partner |
2025 |
2026 |
Diff. |
|
Vietnam |
24,214 |
24,169 |
-0.2% |
|
Côte d'Ivoire |
6,122 |
6,931 |
13.2% |
|
India |
1,404 |
1,286 |
-8.4% |
|
Benin |
379 |
464 |
22.4% |
|
Tanzania |
191 |
385 |
101.6% |
|
Nigeria |
393 |
359 |
-8.7% |
|
Burkina Faso |
241 |
323 |
34.0% |
|
Brazil |
488 |
319 |
-34.6% |
|
Mozambique |
49 |
196 |
300.0% |
|
Ghana |
189 |
125 |
-33.9% |
|
Others |
457 |
306 |
-33.0% |
|
Total |
34,127 |
34,863 |
2.2% |
|
DG AGRI TAXUD Customs Surveillance System, 01/01-08/03 08013200 Fresh or dried cashew nuts, shelled |
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