India rice prices gain as Bangladesh traders lap up new crop.

Rice prices rose this week in top exporter India on robust demand from neighbouring Bangladesh and gains in the rupee, while traders in Thailand pinned their hopes on possible deals with drought-hit Sri Lanka. Bangladeshi traders are aggressively buying new crop in eastern India. That is giving support to prices as African demand is weak. Farmers in India cultivated winter-sown rice on 1.63 million hectares by December-end, 41 percent higher than a year ago. The country’s non basmati rice exports rose 35 percent in April-November from the corresponding period in the previous year, to 5.57 million tonnes.