Steady demand from Bangladesh raised rice prices in India this week but the flood-ravaged country is unlikely to go beyond its initial export targets for the year to shore up depleted stocks. Bangladesh will stick to its earlier plans to import up to 1.5 million tonnes of rice in the year to June 2018. Bangladesh stepped its rice up purchases this year to boost stocks in a bid to combat high domestic rates. In August, it cut a duty on imports of the grain for the second time in two months. The lower import duty has, however, prompted purchases by private dealers, with most of the deals being struck with neighbouring India. Demand from Bangladesh and limited local supplies pushed up India’s 5 per cent broken parboiled rice prices by $3 to $413-$416 a tonne. Limited supplies are available for exports at higher price. Until new season crop starts, prices will remain firm.