According to the General Department of Customs, in May 2025, Vietnam exported 81,116 tons of cashew nuts, reaching a turnover of 550.836 million USD, up 10.5% in volume and 11.5% in value compared to the previous month. In the first 5 months of the year, the total export volume of cashew nuts reached 276,761 tons, equivalent to 1.884 billion USD, down 5.3% in volume but up sharply 19.4% in value compared to the same period in 2024. This growth was mainly due to increased export prices, offsetting the decrease in output. The US market, the largest destination for Vietnamese cashew nuts, recorded mixed developments. In May 2025, exports to the US reached 17,361 tons, worth 117.606 million USD, down 3.37% in volume but up 22.32% in value compared to May 2024. In the first 5 months, total exports to the US reached 59,752 tons, worth 406.889 million USD, down 20.4% in volume but up slightly 1.72% in value. The main reason was the increase in export prices, which helped to partly offset the decline in output. However, from April 2, 2025, the US imposed a 10% import tax on cashew nuts and some Vietnamese agricultural products, ending the previous 0% tax rate. According to Mr. Ta Quang Huyen, Vice President of the Vietnam Cashew Association (Vinacas), this tax rate is a challenge but has not caused serious impacts. US importers continue to receive goods according to signed contracts and agree to pay the additional tax. However, Mr. Huyen emphasized that if the tax policy is unstable, US importers may be hesitant to place long-term orders, affecting export plans. In that context, the Vietnamese government is actively negotiating to maintain tariff preferences, especially for non-US-produced products such as cashews, coffee, and pepper. Mr. Huyen commented that the maximum tax rate that the US can impose on Vietnamese cashews is unlikely to exceed 10%, as this is an essential commodity in the US. However, if negotiations do not achieve the desired results, the export price of cashews may have to decrease to offset tax costs, putting pressure on business profits. Despite the difficulties in the US market, cashew exports to China increased sharply, while Europe tended to decrease slightly or remain flat. According to Vinacas, the decrease in exports to the US in May 2025 was partly due to importers waiting for a clear tax policy from the Trump administration. Meanwhile, concerns that tariffs may increase after July 8, 2025 have prompted strong orders for some other agricultural products, but cashews have not recorded a similar trend. A bright spot for the cashew industry is that the price of raw cashews is falling, from 1,450 USD/ton to 1,350 USD/ton, creating favorable conditions for businesses to import raw materials for production, especially in preparation for the holiday season and Tet at the end of the year. However, many businesses have signed contracts to buy raw cashews when the price is still high, leading to cost pressure. However, the demand for cashews often increases sharply in the last 6 months of the year, bringing expectations that the market will improve. In 2024, Vietnam will export a record 730,000 tons of cashew nuts, reaching a turnover of 4.37 billion USD, up 20.2% compared to 2023. The US is the largest market, accounting for 25-30% of total turnover, with more than 130,000 tons imported in 2023, worth over 700 million USD. As the world's number 1 exporter of cashew nuts, Vietnam continues to take advantage of deep processing and food safety standards to meet the strict requirements of the US market, where cashew nuts are popular for their high nutritional value.