Farmers in the Mekong Delta have almost finished harvesting their summer-fall crop but few have found buyers for all their rice. Nguyen Van Phat, an old farmer in Kien Giang Province, said piles of harvested rice were now left beside the fields, covered by tarpaulins. “Rice is now hard to sell, so no one will steal it.” The situation is a stark contrast to April, when fears of a rice shortage cleared supermarket shelves in Hanoi and Ho Chi Minh City of the food staple. Truong Thanh Phong, chairman of the Vietnam Food Association (VFA), said the world price of rice had dropped sharply, citing that the Vietnamese best type of rice – 5 percent broken – was now sold at $620-630 per ton while the cheapest type – 25 percent broken – used to cost $1,200 per ton. In Chicago, rough-rice futures have fallen 30 percent from a record high in April.
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