Many investors are currently seeking opportunities to plant macadamia, as the industrial-scale growth of this tree could be hugely lucrative for Vietnam.
Local senior agricultural expert Pham Hoang Ngan told VIR that many foreign investors from the US, Australia, and India were seeking opportunities to plant and process macadamia in Vietnam, especially in the northwestern and Central Highlands regions, which are particularly suitable to growing this type of tree.
Last week, Ngan worked with an Indian investor on a potential project to cultivate several hundred hectares of macadamia trees in the Central Highlands region, which is already home to over 1,000ha of these trees.
“This investor will be likely to work with the local authorities this month to propose his project,” Ngan said.
The first macadamia seedlings were introduced into Vietnam for pilot plantation in 2002. The trees have a lifespan of 50-60 years, and their nuts can be harvested five years after being planted. As the nuts are used widely in making cosmetics and supplementary food, there is a huge market for this product both domestically and abroad. The price for one kilogramme of macadamia nuts is about $35-40.
Since 2012, several Vietnamese enterprises and farming households in the northwestern provinces and the Central Highlands regions have been growing macadamia.
Nguyen Duc Huong, vice chairman of LienVietPost Bank said the bank and domestic firm Him Lam JSC had recently conducted a survey for a project to develop macadamia in the Central Highlands, with the total investment of VND20 trillion ($952.38 million) to be invested over five years, and with the first stage comprising 100,000ha. A similar sum would be needed for the second stage during 2020-2024 for 200,000ha.
An other domestic firm, IDT International Company has also planted nearly 4,000ha of macadamia in the northwestern province of Dien Bien, although currently this company has to import macadamia trees from Australia for its production.
Meanwhile, Vina Macca Company, located in the Central Highlands province of Dak Lak, has received Australian support to plant macadamia trees. This company has built two large nurseries in Hoa Binh and Dak Lak provinces. At present, it has 23 types of macadamia, including 10 varieties imported from Australia, five imported from China, two from Thailand, five imported from Hawaii, and one from Vietnam’s Science and Technical Institute of Agriculture and Forestry Highland.
Macca Corporation Dien Bien is also planting about 60ha of macadamia in the northwestern province of Dien Bien, via co-operation with local farmers.
VIR
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