The Dutch firm also proposed to cultivate the plant on an area of 100 ha in a pilot project to establish a production chain, and connect with cooperatives in the province.
Binh Phuoc authorities have encouraged the company to join hands with local farmers and cooperatives, which will create optimal conditions for the establishment of a site producing clean cashew material.
The province is home to more than 71,600 households growing cashews on nearly 174,020 ha, accounting for 30 percent of total agricultural land.
The trees are being grown mainly in farms across the four districts of Bu Dang, Phu Rieng, Bu Gia Map and Dong Phu, yielding about 200,000 tonnes of nuts per year.
There are about 200 cashew companies and 400 cashew processing facilities in Binh Phuoc, with an annual combined capacity of 500,000 tonnes.
Representative of the MCE-MARD Group said it has worked with a Vietnamese partner in producing cashew nut shell oil (CNSO) in Binh Phuoc. The company also plans the construction of a CNSO factory in the near future.
In 2018, Vietnam’s cashew export revenue hit 3.52 billion USD. Major importers include the US, the Netherlands and China.
According to the Vietnam Cashew Association (Vinacas), in 2019, Vietnam plans to ship abroad 350,000 tonnes of cashew nuts for about 4 billion USD, a lower volume but higher value than the year previous.