Tuesday, July 23 2019

VietNamNews

Dutch company to invest $250m in Bình Phước cashews

Update: June, 15/2019 - 08:01

 

 

Inside a cashew nut processing factory in the southern province of Bình Phước. Photo vinacas.com.vn

 

 

HÀ NỘI – MCE Group from the Netherlands planned to invest US$250 million in Bình Phước Province’s cashew industry, online newspaper vietnamplus.vn reported.

During a meeting with the province’s leaders on Friday, Marco Trimborn from the group praised the potential of cashew plantations in the locality, expressing his firm’s desire to develop Bình Phước cashews into an international brand.

The Dutch enterprise plans to build a cashew nut shell oil factory which will cover 10ha in Đức Liễu Commune, Bù Đăng District. It will also develop a 190ha organic cashew plantation in the same commune in order to provide clean and quality cashew products for export.

Additionally, the company will support Bình Phước in developing a 5,000ha area to supply raw materials for cashew processing that meet the strict standards of European markets in the communes of Đức Liễu and Thống Nhất.

Vice chairwoman of the provincial People’s Committee Huỳnh Thị Hằng spoke highly of the Dutch business’ plan, requesting departments and sectors to closely work with the company to develop a brand for the province’s cashew products.

The province is home to more than 71,600 households growing cashews on nearly 174,020ha, accounting for 30 per cent of total agricultural land. 

The trees are grown mainly across the districts of Bù Đăng, Phú Riềng, Bù Gia Mập and Đông Phú, yielding about 200,000 tonnes per year.

There are about 200 cashew companies and 400 cashew processing facilities in Bình Phước, with an annual combined capacity of 500,000 tonnes.

In 2018, Việt Nam’s cashew export revenue hit $3.52 billion with major importers including the US, the Netherlands and China.

The country planned to ship 350,000 tonnes of cashew for about $4 billion this year, according to the Việt Nam Cashew Association. --VNS

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