According to data from the Ministry of Agriculture and Environment, estimated cashew exports in the first 11 months of the year reached 698,100 tons and $ 4.76 billion , an increase of 4% in volume and 19.5% in value compared to the same period last year. The average export price of cashew nuts in the first 11 months of 2025 is estimated at US$6,816 per ton, an increase of 14.9% compared to the same period last year, which is a factor contributing to the strong increase in export value while production volume only increased slightly. China, the US, and the Netherlands are the three largest cashew nut markets for Vietnam, accounting for market shares of 21.3%, 18.9%, and 9.6%, respectively. Compared to the same period last year, the value of cashew exports in the first 10 months of 2025 to the Chinese market increased by 53.7%, to the Dutch market by 20.7%, while exports to the US market decreased by 17%. China buys a type of seed from Vietnam. China is increasing its purchases of Vietnamese cashews, replacing expensive US imports due to tariffs. Explaining this change, Mr. Bach Khanh Nhut, Permanent Vice President of the Vietnam Cashew Association (VINACAS), said that from April 2025 to the present, China has held the number one position in importing Vietnamese cashews for most months (except for July 2025). From Vietnam's perspective, due to the impact of retaliatory tariffs from the US, exports to this market have become difficult, forcing businesses to seek new alternative customers. Among these, China has emerged as a potential market due to its proximity and status as a traditional customer base. From the buyer's side, also due to the impact of US retaliatory tariffs, nuts such as almonds, pecans, and walnuts imported from the US to China have increased in price by 3-4 times, forcing them to seek alternative nuts, with Vietnamese cashews being the optimal choice. From April 2025 to October 2025, Chinese businesses massively imported Vietnamese cashew nuts, with imports increasing by 45-137% month-on-month compared to the same period last year. Specifically, in the first 10 months of 2025, China imported 128,649 tons of cashew nuts from Vietnam, worth $813.1 million.