This episode delivers an in-depth look at the global nuts market.

• Global cashew production is projected to grow by 3 percent in the current season, reaching 5.53 million metric tons. The Northern Hemisphere is expected to contribute 4.57 million tons (a 2 percent increase), while the Southern Hemisphere will add 901,000 tons (a 7 percent increase). Tanzania stands out with a forecasted 17 percent jump in output to 700,000 tons, exceeding expectations set by the International Nut and Dried Fruit Council.
• Increased cashew output is also evident in Cambodia, India, Cote D'Ivoire, and Nigeria, with respective gains of 6.3 percent, 17.9 percent, 4.2 percent, and 6.4 percent. This growth is driven largely by robust demand from China, the European Union, and the Middle East. The EU has notably increased its procurement of African cashew kernels. Conversely, Vietnam, Ghana, and Togo are experiencing production declines of 11.8 percent, 18.2 percent, and 33.3 percent respectively. The U.S. market is seeing weaker demand due to elevated costs and tariffs, prompting Vietnam to shift its export focus to China.
• India's domestic processing market continues to expand, with cashew processing demand expected to reach 4 million metric tons by 2045. Price variations among cashew types are notable, reflecting shifting global preferences and market segmentation. Meanwhile, Vietnam has signed a new cultivation agreement with Cuba, covering cashew and short-cycle crops on 2,000 hectares, strengthening bilateral trade and agricultural investment ties.
• In Goa, the cashew feni industry is leveraging geographical indication tags to protect and enhance its market position amid challenges such as aging orchards, climate variability, and import competition. Vietnam’s cashew export volume has increased 4 percent, while export value surged 19.5 percent in the first eleven months of 2025, fueled by a 14.9 percent rise in average export prices. Exports to China and The Netherlands have grown, but shipments to the United States have declined.
• Separately, Iran has achieved EU certification for its pistachios, boosting its credibility and competitiveness in European markets. With annual pistachio exports totaling 100,000 tons, this certification is expected to strengthen Iran’s role as a leading supplier in the region.