Mountain Hazelnuts Bhutan

$6 million to expand hazelnut production in Bhutan

The project supports the expansion of Mountain Hazelnuts (MHV), a semi-greenfield smallholder based company, to take advantage of the growing demand for hazelnuts from European confectionary and snack producers in Asia.

 

With GAFSP’s support, MHV will provide hazelnut tree plantlets, inputs and support to local farmers – free of charge. The trees will be planted on fallow land that otherwise has no commercial use for the farmers. Once the trees produce hazelnuts, the company will purchase the crop from the farmers at a guaranteed minimum price and market the hazelnuts to international buyers.

 

This project will be carried out in conjunction with the Asian Development Bank (ADB). IFC and ADB will each invest $3 million of equity in MHV which will then be matched by a $6 million investment by GAFSP.

 

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