Vietnamese sticky rice sees price reduction.

The prices of Vietnam’s sticky rice are facing a downward trend due to its over-supply and dependence on a single large market. Although it is now the beginning of the harvest of the summer-autumn crop, the sticky rice farmers are quite passive because they have few orders and few prospective buyers. The statistics of Vietnam Food Association (VFA) showed that, in 2017, Vi?t Nam exported 1.4 million tonnes of sticky rice, mainly to China. Last year, as Vietnam was expanding sticky rice production, China also quickly increased sticky rice cultivation. The current inventory of Chinese enterprises is quite large; therefore, promoting the export of sticky rice to China’s market in the near future is impossible, a sticky rice exporter to China revealed. Due to the declining demand for sticky rice, its price declined sharply from US$530-540 per tonne in January-February to $460-470 at the moment. The domestic sticky rice price also fell sharply compared to other types of rice.