Vietnam’s macadamia export to hit $2.5 billion by 2050
Vietnam’s macadamia export to hit $2.5 billion by 2050
The Vietnamese Government aims to turn macadamia into a strong export commodity.
Vietnam strives to reach US$400 million worth of macadamia export in 2030 and $2.5 billion in 2050, with the proportion of macadamia in shell not exceeding 40%.
Macadamia trees in Lam Dong Province's farming house. Photo: the Vietnam Macadamia Association |
This is the goal of a project to sustainably develop macadamia cultivation and processing in the 2021-2030 period, with a vision to 2050, approved by Deputy Prime Minister Le Van Thanh on March 15.
Under the project, the output of processed macadamia nuts is expected to reach about 130,000 tons in 2030 and roughly 500,000 tons in 2050.
The size of the growing area is about 130,000-150,000 ha by 2030, mostly in the northwestern region of Vietnam including Dien Bien and Lai Chau provinces and the Central Highlands provinces of Lam Dong, Dak Nong, and Kon Tum.
Based on the evaluation of macadamia farming efficiency in the 2021- 2030 period, the growing area is expected to expand to about 250,000 ha in 2050.
Economic sectors are expected to invest in macadamia processing with the aim of building 300-400 new macadamia factories with an annual capacity of 100-200 tons each by 2030. The project will also focus on upgrading 65 existing ones.
Especially, the provinces have pledged to help enterprises who are interested in building eight processing factories for high-value macadamia products, each with an annual capacity of 10,000-15,000 tons of fresh nuts.
The enterprises are encouraged to partner with farmers to form a production, processing, and selling chain while localities would be assisted in macadamia varieties research and selection and farming techniques training.
Under the project, macadamia localities will support businesses in building their own macadamia brands with geographical indication and carrying out trade promotion activities so as to develop a consumption market for the product.
The provinces are expected to closely coordinate with ministries, the Vietnam Macadamia Association, and enterprises to expand export markets and remove trade barriers while promoting the official export of macadamia nuts and nuts in the shell as well as processed macadamia products in international markets.
