Tuesday,  Jul 27, 2021,17:12 (GMT+7) 0 0
Macadamia: The only crop in Vietnam exclusively supported by a bank and an association
Monday,  May 18, 2020,07:22 (GMT+7)

Macadamia: The only crop in Vietnam exclusively supported by a bank and an association

Macadamia is an evergreen genus indigenous to Australia and has been grown in Vietnam for over 20 years. Macadamia is easy to grow and tolerates tropical weather. Macadamia nuts are of high value and their shells can be used to produce fertilizer and fuel.

Macadamia flowers and fruits.

Nutrients and health benefits

Some 90% of macadamia nuts are used as food thanks to its high amount of vitamin A, Omega 3, Omega 6 and many other nutrients that are good for health. Macadamia nuts are a rich source of antioxidants, helping users with weight loss and heart-related diseases.

With delicate aroma, macadamia flowers strongly attract bees.

Diverse products

Macadamia nuts have a subtle, buttery flavor, and velvety-soft crunch. They can be processed into various products with high value such as food, cooking oil, cosmetics, and dietary supplements.

Large market

According to the International Nut and Dried Fruit Council, 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.
Largest macadamia nut markets in the world include the U.S., Europe, Japan, South Korea, China, the Middle East and India. In the future, macadamia nut demand in populous countries such as China and India is expected to soar as macadamia products are becoming more popular.

Support from government and local authorities

The Ministry of Agriculture and Rural Development has issued guidance for growing macadamia trees and processing macadamia nuts. On November 16, 2018, the ministry issued Circular 30/2018/TT-BNNPTNT, recognizing macadamia tree as one of 20 key forest trees. This creates a legal corridor for developing standard seedling gardens, setting the ground for the development of macadamia in Vietnam.

Economic efficiency

Macadamia nuts sell for VND80,000-110,000 per kilogram. Farmers can earn VND150-200 million per hectare per year from a farm of five-year-old macadamia trees, with costs accounting for 25% of revenues.
Support from the Vietnam Macadamia Association and LienVietPostBank

Macadamia is the only crop in Vietnam exclusively supported by a bank and an association. The Vietnam Macadamia Association was founded to support enterprises and individuals involved in macadamia growing.
The association is mainly tasked to:

(1) Support the Ministry of Agriculture and Rural Development to build a legal corridor for localities to develop seedling gardens and macadamia growing areas; support enterprises and individuals to develop successful macadamia growing models nationwide;

(2) Provide training and assistance for macadamia farmers, guarantee the purchase of macadamia nuts from farmers, and ensure Vietnamese macadamia nut prices are equivalent to 85% of Australian macadamia nut prices in 10 years since farmers and enterprises begin to cultivate macadamia trees;

Macadamia nuts can be used as ingredients for cosmetic products.

(3) The Vietnam Macadamia Association is a member of the International Macadamia Association and the International Nut and Dried Fruit Council. The association regularly sends experts and farmers to countries with developed macadamia industry such as Australia, South Africa, China and Thailand to learn from their experience. The association also frequently attends seminars organized by the International Macadamia Association and the International Nut and Dried Fruit Council to learn about the global nut production trends and global macadamia nut demand, from which it will have appropriate instructions and support for Vietnamese macadamia farmers and traders;

(4) Work with local and international research centers to research into macadamia trees’ diseases and their nutrient requirements to contribute to the sustainable development of macadamia in Vietnam;

(5) Work with the media to develop communication programs for Vietnamese macadamia products;

(6) Act as a bridge connecting LienVietPostBank and Him Lam Corporation with macadamia farmers
The high demand for macadamia products, technical assistance from the Vietnam Macadamia Association and financial support from LienVietPostBank offer a great opportunity for farmers in Vietnam to cultivate macadamia trees, contributing to the country’s prosperity, eliminating hunger and reducing poverty.

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