Economy
Year-end stimulus expected to boost economic growth
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| Tourists visit a cocoa farm owned by Trọng Đức Cocoa Company. – Photo baodongnai.com.vn |
Viet Nam News
ĐỒNG NAI – The southeastern province of Đồng Nai expects to grow an additional 500ha of cocoa by 2018, bringing the total area of cocoa in the province to 1,000ha.
The province’s Department of Agriculture and Rural Development said it was implementing six large-scale cocoa fields.
Nguyễn Hữu Định, the head of the province’s Rural Development Sub-department, said besides implementing large-scale cocoa fields, the province has also provided farming techniques, loans and fertiliser to farmers.
The province’s cocoa productivity has increased to 10 tonnes per ha.
Trọng Đức Cocoa Co, which takes part in a large-scale field project, has signed purchase of long-term contracts with farmers to guarantee cocoa outlets.
The company buys cocoa at a price of more than VNĐ6,000 per kg (US$0.28), higher than the market price. Purchase price may change based on the market price.
Cocoa trees are easy to grow, have less disease and can be harvested in more than 10 years, according to cocoa farmers in Đồng Nai Province’s Định Quán District.
The total investment for one ha of cocoa is about VNĐ20 million ($900) and the profit will be VNĐ50 million ($2,240) a year, they said.
This year, Đồng Nai farmers will grow 200,000 cocoa trees on 250ha, according to Đặng Tường Khanh, the director of Trọng Đức Cocoa Co.
The company’s products from cocoa, which include chocolate and wine, are exported to South Korea and Japan. – VNS
