A seminar was held in Central Highlands Lam Dong province’s Da Lat city on February 7 to introduce a roadmap for the implementation of a macadamia cultivation project in the Central Highlands region.
A seminar was held in Central Highlands Lam Dong province’s Da Lat cityon February 7 to introduce a roadmap for the implementation of amacadamia cultivation project in the Central Highlands region.
Itis organised by the Lam Dong People's Committee, the Central EconomicsCommittee and the Central Highlands Steering Committee.
Accordingto the project, the Lien Viet Post Joint Stock Commercial Bank(LienVietPostBank) will lend the Him Lam Joint Stock Company over 20,000billion VND (over 930 million USD) for planting macadamia for fiveyears.
This is the first project aimed at large-scale cultivation of the macadamia nut in Vietnam.
TheHim Lam Company will supply farmers with seeds, fertiliser, and plantprotection products and will teach them proper planting techniques.
Themoney will also be invested during the first phase of the project formacadamia cultivation on 100,000 hectares of land by 2020.
Another18,600 billion VND (865 million USD) is expected to be invested duringthe project's second phase to expand the area for cultivating the plantto 200,000ha between 2020 and 2024.
NguyenDuc Huong, Vice President of the LienVietPostBank, who proposed that theCentral Highlands Steering Committee organise the seminar, says Vietnamhas all the conditions required for the strong cultivation ofmacadamia.
"We wish to lend to farmers forgrowing this kind of tree. The farmers can collect the capital and earnprofit in the seventh year as per our expectation," Huong tells theVnEconomy.
The macadamia nut is dubbed asthe "Queen of Nuts" for its outstanding nutritional value and highconcentration of mono-unsaturated fats.
Theplant, indigenous to Australia, was introduced to Vietnam in 2002 fortrial cultivation in some central provinces, including Lam Dong, DakNong and Dak Lak. After more than a decade under trial cultivation, itwas found that Vietnam produced a higher yield of macadamias than othercountries.
Local scientists have tested andfound that the north-western and Central Highlands regions haveconditions best suited for the plant's growth.
By September 2014, the plant covered 1,600ha in the Central Highlands region.
Theproject aims to turn the plant into a key industrial plant in theCentral Highlands region, which can provide a stable source of incomefor the farmers and turn the region into a "macadamia kingdom" inSoutheast Asia.-VNA
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