The Ministry of Agriculture and Rural Development (MARD) has ratified Cocoa Development Project by 2015 and 2020, which will need a total investment of VND40 billion (US$2.28 million).
Under the project, Vietnam will have 60,000 hectares under cocoa cultivation in 2015. Some 35,000 hectares of which will be harvested at average output of 1.5 tons per hectare or 52,000 tons of dry cocoa.
The country expects that its export revenue from cocoa will reach US$50-60 million in 2015.
The cultivation area on cocoa trees is planned to increase to 80,000 hectares in 2020, including 60,000 hectares to be harvested with total output climbing to 108,000 tons or 1.8 tons per hectare.
The project said Vietnam’s earning from cocoa nut exports will hit US$100-120 million by 2020 thanks to growing demand for the product on the world market.
Much of the investment for the project will be pumped into developing new and high quality cocoa varieties, cocoa processing and encouraging intensive cultivation.
According to the MARD, Vietnam’s current cocoa cultivation area is more than 8,000 hectares, mostly in southern and central highlands provinces of Ben Tre, Dak Lak, Ba Ria-Vung Tau and Dong Nai.
The country’s target at 10,000 hectares of cocoa in 2010 is reachable as more and more farmers are interested in growing the plant due its high economic value.
MARD estimated that a hectare of cocoa cultivation can generate around VND60-70 million, equal to rubber but some VND40 million higher than cashew. (Vietnam Economic Times)
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