Glutinous rice price dips despite strong export growth

A combine harvester is seen on a glutinous rice field in Tan Thanh District, Long An Province - PHOTO: TRUNG CHANH

CAN THO - Glutinous rice exports, especially to China, have grown significantly this year but the price of this kind of grain on the domestic market has plummeted sharply over the same period last year.

Glutinous rice exports reached 74,000 tons in February, increasing by 23,500 tons over the same period last year. Particularly, sticky rice shipments to China amounted to 67,000 tons, an increase of 26,000 tons over the same period last year.

In March, total glutinous rice exports reached 161,000 tons, up 43,000 tons over the same period last year and up 87,000 tons compared to the previous month. In particular, China imported 149,000 tons from Vietnam, up 35,000 tons year-on-year and up 82,000 tons month-on-month.

Despite strong export growth, some traders in the Mekong Delta said sticky rice has edged down by VND1,200-1,300 per kilo over the same period last year.

Tran Quoc Tuan, a rice trader in Long An Province, said the price of material glutinous rice harvested by combine harvesters ranges from VND5,000 to VND5,100 per kilo (22 U.S. cents per kg), down VND300-400 against half a month ago and VND1200-1300 versus the same period last year.

“We stock up on hundreds of tons of glutinous rice a day in anticipation of higher prices in the future because China still has large demand for the grain," Tuan added.

Nguyen Thanh Phong, director of Van Loi Corporation in Tien Giang Province, ascribed the falling glutinous rice price to a fall in imports by China while glutinous rice output in the Mekong Delta, especially Long An and Dong Thap provinces, has steadily inched up.