Vietnamese | English

08/05/2023 - 17:53

Earning billions from bananas

Once cultivating rice yet wanting to find a new direction for himself, young farmer Le Thanh Nhan (Tan Thanh commune, Moc Hoa district, Long An province) switched to growing South American cavendish bananas.

Bananas about to be harvested at Mr. Le Thanh Nhan's garden

Initially, Mr. Nhan encountered many difficulties since the investment capital was quite high yet the effectiveness was uncertain. Many people refused to cooperate when receiving Mr. Nhan's offer. Undeterred, he cooperated with "banana king" Vo Quan Huy, to produce South American cavendish bananas according to organic methods and towards fastidious export markets such as Japan, Korea, China,etc, thereby establishing production linkages to bring sustainable economic efficiency.

The initial investment cost for 1 hectare of bananas is about 450 million VND

To grow 30 hectares of bananas, he invested 13 billion VND, planted organically with a self-contained process and applied modern technology, automation and digitization in garden management, watering and harvesting. However, the story of Mr. Nhan's big investment in banana trees on alkaline soil made many people doubt its feasibility. He shared: “Initially, I tried to convince the surrounding households to convert but was refused because they thought that growing bananas on Moc Hoa alkaline soil was too risky, the failure rate was higher than the success rate".

Mr. Thanh Nhan has experienced many challenges when starting a business from having to rent adjacent land for cultivation, lack of water for irrigation in the dry season to failure to nurse banana trees. However, with determination and perseverance, he researched and tested many solutions, overcame all difficulties and proved the effectiveness of the transition from rice to banana cultivation. Each hectare of bananas has an initial investment cost of about 450 million VND. After 6 months of planting, bananas began to bear fruit and after 9 months, they were harvested with an output of 40-45 tons/hectares, making the profit of about 120 million VND/hectare/year and recovering the capital. With good care, South American cavendish bananas can be exploited for up to 10 years.

Until now, Mr. Thanh Nhan's banana farming model has achieved initial results when bananas have good output, stable selling price of about 8,500 VND/kg, expected profit of over 3 billion VND/year. He also researched and successfully nursed South American cavendish banana seedlings./.

By Chi Dang - Translated by Q. Thien