3 Sept - The Vietnamese Government has unveiled plans to invest over US$8 million dollars by 2012 to boost its cocoa industry as part of a plan to increase national production by more than 1000% within 12 years.
The project, in the southern province of Binh Phuoc, will see the cultivation of a further 6,000 hectares, which authorities hope will yield 600 MT of cocoa annually. The region currently has 1,200 hectares of cocoa.
Vietnam currently has 10,000 hectares of cocoa under cultivation and produces a reported 7,000 MT a year. The Government says it plans to expand the coverage to 80,000 hectares, with an annual output of 108,000 MT by 2020.