Cashews: high demand in Europe
April 7, 2025 at 11:26 AM ,
Der AUDITOR
Record high EU imports
EU cashew nut imports reached an absolute record of 42,850 mt worth EUR 273 million (USD 300 million) in the first quarter of 2025 as compared with the same period in 2024. This is also 16% up in terms of volume and a stunning 42% up on terms of value on the 37,054 mt worth EUR 193 million (USD 212 million) imported last year.
Vietnam presently accounts for 72% of the EU’s total imports. EU buyers may also profit from the 46% import tariff for Vietnam announced by Trump last week. Issue is that the United States account for more than 30% of Vietnam’s cashew exports. Speculation is that US consumers are not expected to accept even higher prices for cashews, which will most certainly prompt Vietnamese suppliers to turn to other purchasers in the EU, Japan and the Middle East. Although the retaliatory import tariff for Vietnam is to become effective as of 9 April, it is however unclear in how far cashews will be included on the list of products to which the tariff will apply.
EU imports from the Ivory Coast have also surged by 43%. Processing has risen sharply in the country in recent years. According to data presented at the African Cashew Alliance Forum the crop estimates for raw cashew nuts are good for the current season and range at 1.2-1.4 million mt. Production should be higher than last year’s 1.2 million mt. With arrivals picking up farmgate prices are coming down again. Expectation is that the selling pressure will rise in the run up to Easter, which will be celebrated as of 18 April. As Olam observes the crop flows seem to be in good quality in West Africa, where arrivals are about to peak. The Ivory Coast is confronted with a 21% tariff in the US.
India is the third most important supplier for the EU. Yet, imports from here have climbed by a much more moderate 8%. Speculations as to the impact of the 21% US tariff levied on the country also abound. While some expect India to profit in the US from the much higher tariff slashed on Vietnam in the short run, others emphasise that capacities are limited as domestic demand is high. Quotations for W320 kernels have risen sharply since the start of March and range much higher than in the past two years.
Within the EU Germany is the main importing country accounting for 33% of the bloc’s import volume this year. Next in line are the Netherlands with 29%, followed by Spain and Italy with much smaller share of 9% each.
|
EU cashew nut imports (mt) |
|||
|
Partner |
2024 |
2025 |
Diff. |
|
Vietnam |
26,789 |
30,758 |
14.8% |
|
Ivory Coast |
5,067 |
7,223 |
42.5% |
|
India |
1,824 |
1,962 |
7.6% |
|
Brazil |
358 |
600 |
67.6% |
|
Nigeria |
556 |
457 |
-17.8% |
|
Benin |
566 |
379 |
-33.0% |
|
Burkina Faso |
644 |
313 |
-51.4% |
|
Tanzania |
245 |
308 |
25.7% |
|
Ghana |
269 |
222 |
-17.5% |
|
Indonesia |
34 |
220 |
547.1% |
|
China |
35 |
95 |
171.4% |
|
Togo |
144 |
77 |
-46.3% |
|
Mozambique |
225 |
49 |
-78.2% |
|
Mali |
40 |
40 |
0.0% |
|
Others |
258 |
156 |
-39.5% |
|
Total |
37,054 |
42,859 |
15.7% |
|
DG TAXUD Customs Surveillance, provisional data, 01/01-30/03 |
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