20 000 billion VND for growing Macadamia in Vietnam

Tomorrow, 7 Feb 2015, Steering Committee of Central Highlands in collaboration with Central Economic Committee of Lam Dong People Committee will hold a seminar on the development of growing Macadamia in Vietnam in the Central Highlands area.

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In this seminar, Him Lam Corporation and LienVietPostBank will introduce a road map for the development of Macadamia on a scale of over 20,000 billion VND in the first five years. This is the first project implemented in Vietnam to develop Macadamia on the large scale. The project will be carried out from choosing cultivar, implementing regional planning and capital lending, and directly involving in the project with farmers in the Central Highlands area. In early 2014, LienVietPostBank and Him Lam proposed the plan with the size of 10,000 billion VND, in which, these investors will directly involve in growing 5,000 hectares. After making survey, the scale of the project is expanded up to 20,000 - 25,000 billion VND. The specific implementation of the project starts from 2015.

"There are some successful deployment models. Nonetheless, Macadamia in Vietnam is grown on a small scale. We hope that in the future Macadamia will become one of major industrial plants attracting the attention of farmers in the Central Highlands Vietnam. The Central Highlands Vietnam will become a Kingdom of Macadamia in the South East Asia", a leader of LienVietPostBank shared. The upcoming workshop will focus on the above objective with the attendance of both domestic and international enterprises and relevant authorities. According to experts, if Vietnam starts developing Macadamia industry from now, in the next 15 - 20 years, the total annual production of this product can reach at 800,000 tons of Macadamia grains and 250,000 tons of nuts. The commercial value gaining from growing this plant can reach 4 billion USD per year.

Macadamia potentials were recognized by the world. In the near future, Macadamia will become a major plant in Vietnam agriculture sector bringing the high economic values. This was acknowledged by experts in "Vietnam Macadamia - The development potentials and the opportunities for collaboration" Forum held in Hanoi by the Steering Committee of the Northwest Vietnam, Thanh Tay Institute for Research and Technological Development, and International Technology  Trading and Investing Development JSC.

Macadamia is known as a Queen of dried fruit because of its outstanding nutritional values and special taste and flavor. According to the statistics of International Nut and Dried Fruit Council (INC), in 2012, the total production of Macadamia reached the number of 145,000 tons, which was equivalent to 728 million USD. The average growth rate of Macadamia market from 2006 until now has fluctuated from 10 - 15% per year. Macadamia in Asia market now has significantly grew. In 2009, Chinese domestic consumption market of Macadamia was estimated at over 16,000 tons with the value of 24 million USD. Besides, 2014 saw the strong development of Macadamia in Chinese and Taiwan. According to incomplete figures, in 2014, China imported 36% of the world total quantity of Macadamia. In addition, there are many potential markets which have been not exploited yet like India, Korea, Vietnam, Middle East, and so on.

Macadamia is currently a high economic tree, which is known as a "billion-dollar tree" in Vietnam. Seeing the great demand for this product, Vietnam has started growing Maca a decade ago. It is forecasted that the price of Macadamia will continue increasing in the future. With the current price, one hectare of macadamia values 2,000 - 3,000 USD. In terms of economic value, no tree is able to compete with maca, thereby, this is the best choice for poverty reduction in Vietnam. It is expected that, in next ten years, macadamia will become "billion-dollar tree". According to many research, the Central Highlands and the Northwest Vietnam are the most suitable region for growing this tree.