CASHEW MARKET REPORT WEEK 41 (12/10-17/10/2026)

*ENGLISH VERSION

1. OVERVIEW OF THE VIETNAMESE AND INTERNATIONAL MARKETS

Overall Trends

• Vietnam: The cashew kernel market remains stable. W320 has been traded at USD 3.17–3.25/lb by factories supplying the EU market. Meanwhile, WS and LP prices have edged down slightly due to weaker demand over a period.
• Vietnamese cashew kernel export demand improved considerably from the second half of September, supported by EU and US buyers purchasing for nearby shipments and the first half of 2027. Demand from China remains strong, with imports exceeding 16,000 tonnes for the second consecutive month, in August and September.

Vietnam Cashew Kernel FOB Trading Prices

Grade	Low	High	Unit
W180	4.50	4.60	USD/lb
W210	4.10	4.40	USD/lb
W240	3.55	3.60	USD/lb
W320	3.17	3.35	USD/lb
SW/LBW320	2.85	3.00	USD/lb
WS	2.65	2.75	USD/lb
LP	1.95	2.20	USD/lb
SP	1.40	1.60	USD/lb

Supply–Demand Trends

• RCN: Prices for high-outturn lots remain firm. Sellers may slightly reduce prices for low-outturn lots and cargoes in transit. Vietnamese buyers remain on the sidelines and are not rushing to buy because RCN prices are still high relative to current kernel prices.
• Good-quality RCN supplies are considered limited, particularly ahead of the Tanzania auction season.
• Kernels: Demand from the EU and US has improved, and China continues to buy actively, although buyers remain cautious.

2. RAW CASHEW NUTS (RCN) MARKET

RCN Prices

Vietnam: High-outturn RCN prices remain firm. Sellers may slightly reduce prices for low-outturn lots and cargoes at sea, but Vietnamese buyers are still in no hurry to purchase.

Indicative RCN Prices, CNF Vietnam

Origin	Outturn	Price	Unit
Indonesia	50/200	1,685	USD/tonne CNF HCMC
Côte d’Ivoire (IVC)	44/190	1,510	USD/tonne CNF HCMC
Côte d’Ivoire (IVC)	42/200	1,410	USD/tonne CNF HCMC
Mozambique	46.5/195	1,580	USD/tonne CNF HCMC

3. VIETNAM CASHEW IMPORTS AND EXPORTS

Cashew Kernel Exports

September 2026

Vietnam’s cashew kernel exports in September 2026 reached:

• 64,888 tonnes, compared with 72,607 tonnes in September 2025, down 10.63%.
• Value: USD 469,933,462, down 4.55%.
• Average price: USD 7,242/tonne, up 6.81% from USD 6,781/tonne in the same period last year.

Reported major destinations included China (16,205 tonnes), the US (11,295 tonnes), an unspecified-market group (10,738 tonnes), the Netherlands (3,677 tonnes), the UAE (2,930 tonnes) and Germany (2,513 tonnes).

Cumulative January–September 2026

• Volume: 542,768 tonnes, down 2.17% year on year.
• Value: USD 3,844,003,009, up 1.88%.
• Average export price: USD 7,082/tonne, up 4.13%.

China was recorded at 131,517 tonnes (24.23% share), and the US at 114,242 tonnes (21.05%).

Raw Cashew Nut Imports

September 2026

Vietnam’s RCN imports in September 2026 fell 14% year on year.

Cumulative January–September 2026

Total RCN imports reached 2,350,540 tonnes, compared with 2,436,401 tonnes in the same period of 2025, a decrease of 85,861 tonnes or 3.52%.

By source:

• Cambodia: 1,034,487 tonnes, up 10.03%.
• Côte d’Ivoire: 447,820 tonnes, down 17.23%.
• Nigeria: 186,726 tonnes, down 16.22%.
• Tanzania: 165,352 tonnes, up 23.19%.
• Ghana: 133,919 tonnes, down 34.04%.
• Indonesia: 12,763 tonnes, down 26.97%.
• Other origins: 372,843 tonnes, down 12.04%.

4. INTERNATIONAL CASHEW KERNEL PRICES

Indicative FOB Prices

Grade	Vietnam	Africa	Unit
W240	3.55	3.73	USD/lb
W320	3.22	3.48	USD/lb
WS	2.68	2.73	USD/lb
LP	2.10	2.33	USD/lb

5. SHORT-TERM OUTLOOK

• RCN: Good-quality RCN supplies are expected to remain limited ahead of the Tanzania auction season. Buyers are expected to compete strongly for new-crop supplies.
• Tanzania: With nearly 20,000 tonnes of RCN already in warehouses in Mtwara and Lindi, clearer information on prices and traded volumes is expected as auctions continue.
• Mozambique: Reported measures to raise raw cashew reference prices, increase RCN export taxes and strengthen anti-smuggling efforts are expected to support domestic cashew production and maintain firm sentiment in the RCN market.
• Vietnam: Cashew kernel export demand has improved considerably, with EU and US buyers purchasing for nearby shipments and the first half of 2027, while China continues to show strong demand. However, buyers remain cautious amid inflation, high energy costs and economic uncertainty.

Compiled Sources

Disclaimer: This bulletin is provided for reference only and does not constitute investment or trading advice. Figures, assessments and forecasts are compiled from sources considered reliable at the time of publication; however, their accuracy, completeness and timeliness are not absolutely guaranteed. The publisher accepts no responsibility for any losses arising from the use of this bulletin. Readers should carefully consider the information and consult a professional before making decisions.

 

*CHINESE VERSION

1、越南及国际市场概况

总体趋势

• 越南：腰果仁市场保持稳定。面向欧盟市场的工厂，W320实际成交价为3.17–3.25美元/磅。与此同时，由于一段时间内需求偏弱，WS和LP价格略有下降。
• 自9月下半月起，越南腰果仁出口需求明显改善，主要受到欧盟和美国买家采购近期交货及2027年上半年货物的推动。中国需求持续强劲，8月和9月连续第二个月进口量超过16,000吨。

越南腰果仁FOB成交参考价

等级	最低价	最高价	单位
W180	4.50	4.60	美元/磅
W210	4.10	4.40	美元/磅
W240	3.55	3.60	美元/磅
W320	3.17	3.35	美元/磅
SW/LBW320	2.85	3.00	美元/磅
WS	2.65	2.75	美元/磅
LP	1.95	2.20	美元/磅
SP	1.40	1.60	美元/磅

供需趋势

• RCN：高出仁率货源价格保持坚挺；低出仁率货源及在途货物的卖方可能小幅降价。由于RCN价格相对于当前腰果仁价格仍然偏高，越南买家继续观望，暂未急于采购。
• 优质RCN供应被认为较为有限，尤其是在坦桑尼亚拍卖季开始之前。
• 腰果仁：欧盟和美国需求有所改善，中国继续积极采购，但买家仍保持谨慎。

2、腰果原料（RCN）市场

RCN价格

越南：高出仁率RCN价格保持坚挺。低出仁率货源及海上在途货物可能小幅降价，但越南买家仍未急于采购。

越南CNF参考价

来源地	出仁率	价格	单位
印度尼西亚	50/200	1,685	美元/吨，CNF胡志明市
科特迪瓦（IVC）	44/190	1,510	美元/吨，CNF胡志明市
科特迪瓦（IVC）	42/200	1,410	美元/吨，CNF胡志明市
莫桑比克	46.5/195	1,580	美元/吨，CNF胡志明市

3、越南腰果进出口

腰果仁出口

2026年9月

2026年9月越南腰果仁出口数据如下：

• 出口量为64,888吨，低于2025年9月的72,607吨，同比下降10.63%。
• 出口额为469,933,462美元，同比下降4.55%。
• 平均价格为7,242美元/吨，较去年同期的6,781美元/吨上涨6.81%。

报告列出的主要市场包括：中国16,205吨、美国11,295吨、未明确归类市场组10,738吨、荷兰3,677吨、阿联酋2,930吨和德国2,513吨。

2026年1月至9月累计

• 出口量：542,768吨，同比下降2.17%。
• 出口额：3,844,003,009美元，同比增长1.88%。
• 平均出口价格：7,082美元/吨，同比增长4.13%。

中国为131,517吨，占24.23%；美国为114,242吨，占21.05%。

腰果原料进口

2026年9月

2026年9月，越南RCN进口量同比下降14%。

2026年1月至9月累计

RCN进口总量为2,350,540吨；2025年同期为2,436,401吨，减少85,861吨，降幅为3.52%。

按供应来源划分：

• 柬埔寨：1,034,487吨，同比增长10.03%。
• 科特迪瓦：447,820吨，同比下降17.23%。
• 尼日利亚：186,726吨，同比下降16.22%。
• 坦桑尼亚：165,352吨，同比增长23.19%。
• 加纳：133,919吨，同比下降34.04%。
• 印度尼西亚：12,763吨，同比下降26.97%。
• 其他来源：372,843吨，同比下降12.04%。

4、国际腰果仁价格

FOB参考价

等级	越南	非洲	单位
W240	3.55	3.73	美元/磅
W320	3.22	3.48	美元/磅
WS	2.68	2.73	美元/磅
LP	2.10	2.33	美元/磅

5、短期展望

• RCN：坦桑尼亚拍卖季开始前，优质RCN供应预计有限。预计买家将激烈竞争新季货源。
• 坦桑尼亚：姆特瓦拉和林迪仓库已存入近20,000吨RCN。随着拍卖继续进行，价格和成交量信息预计将更加明朗。
• 莫桑比克：据报告，提高腰果原料参考价、上调RCN出口税以及加强打击走私等措施，有望支持当地腰果生产，并维持RCN市场的坚挺情绪。
• 越南：腰果仁出口需求明显改善，欧盟和美国买家采购近期交货及2027年上半年的货物，中国需求也持续强劲。不过，受通胀、能源成本高企和经济不确定性影响，买家仍保持谨慎。

资料来源汇总

免责声明：本简报仅供参考，不构成投资建议或交易咨询。文中的数据、观点和预测汇总自发布时被认为可靠的来源，但不保证其绝对准确、完整或及时。发布方不对因使用本简报信息而产生的任何损失承担责任。读者在作出决定前应谨慎评估，并咨询专业人士。