Illustration of cashews ready for harvest (Navitas Organics)
On January 3, Cambodia reported an earning of US$1.5 billion from raw cashew nut exports in 2025, marking a 30% year-on-year (y-o-y) increase as export volumes reached 1 million tonnes. Strong global demand and rising prices supported farmer incomes, with prices peaking at around USD 2,000 per tonne. Almost all exports were shipped to Vietnam, highlighting Cambodia’s growing role as a major raw cashew supplier in Southeast Asia.
Business implications
The surge benefits farmers, traders and agribusiness exporters, reinforcing cashew as a key cash crop alongside rice and rubber. However, heavy reliance on exporting raw nuts to Vietnam exposes Cambodia to price and buyer concentration risks. Expanding local processing could help capture more value, boost jobs and strengthen resilience across the agricultural value chain.
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