Macadamia looks towards “billion dollar tree”
22:39 | 24/09/2020

VGP – PM Nguyen Xuan Phuc is expected to chair a conference on macadamia development in Dak Lak next week with a view to figuring out ways to realize the dream of ‘one-billion-dollar revenue” by 2030.   

Illustration photo

The event will take place the same day with the third dialogue between the Government chief and local farmers.

Minister of Agriculture and Rural Development Nguyen Xuan Cuong reported that macadamia has been grown in Viet Nam for over 20 years. Macadamia is easy to grow and tolerates tropical weather.  In Viet Nam, only eight provinces have a suitable climate for macadamia, including five Central Highland provinces and three northern provinces.

The global demand for macadamia nuts will remain high in the next five to six years. Until 2030, macadamia nut production can meet only 50% of the global demand, leaving abundant opportunities for Viet Nam.

In November, 2020, the Ministry of Agriculture and Rural Development issued a directive which recognizes macadamia trees as one of 20 key forest trees in Viet Nam. The move created a legal corridor for developing standard seedling gardens, setting the ground for the development of macadamia in Viet Nam.  

The Ministry of Agriculture plans to increase macadamia plantations to 10,000 hectares by 2020, with 7,500 hectares interspersed with other trees like coffee and tea.

Especially, macadamia is the only crop in Viet Nam exclusively supported by a bank and an association.

Under the preset goals for macadamia development, Viet Nam targets to raise plantation area to 50,000 hectareas; produce 85,000 tons of macadamia and earn US$ 500 million of revenue by 2025. By 2030, total cultivation area will reach 100,000 hectares. The goals of 165,000 tons of output and US$ 1 billion of revenue would be realized.

Earlier, PM Nguyen Xuan Phuc attended the first two dialogues with farmers in the Red River Delta in 2018 and the Mekong Delta Region in 2020./.

By Kim Loan     

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