LienVietPostBank funds macadamia growing in Lam Dong

Farmer Nguyen Duc Ba stands by his macadamia. (Photo: VNA)

Lam Dong (VNA) – Each farmer household in Lam Ha district, the Central Highlands province of Lam Dong, can borrow between 50-80 million VND (2,200 – 3,500 USD) from LienVietPostBank to develop forests in tandem with expanding macadamia growing area.

A deal to this effect was singed in Lien Ha commune on August 22 between local farmers and representatives of the bank, the district’s Lan Tranh Forest Management Board and the Him Lam Macadamia Company.

The Lan Tranh Forest Management Board and the Lien Ha commune People’s Committee will support, monitor the use of the loans and debt collection, while the Him Lam Company will be responsible for the quality of macadamias and consumption.

During the signing ceremony, six farmers from Tan Thanh commune signed contracts with LienVietPostBank. They will be provided with macadamia seedlings by the end of August.

According to the Lam Ha district People’s Committee, the locality plans to plant 1,000 hectares of forests in 2017, including 300 hectares of macadamia.

According to the provincial Department of Agriculture and Rural Development, about 3,500 – 4,000 hectares of macadamia will be planted from 2016 – 2020 in the districts of Lam Ha, Bao Lam, Duc Trong. Dam Rong and Bao Loc.

By 2030, the province aims to have 12,000 – 15,000 hectares of macadamia, producing 8,000 tonnes of macadamia nuts per year.