India rice prices rise on muted supply; lack of deals weighs on Thailand.

Rice export prices rose in India this week on limited supply and improved demand, while a lack of fresh overseas interest weighed on the staple market in Thailand. In top exporter India, prices for the 5 percent broken parboiled variety rose by $6 to $425-$429 per tonne amid reduced supply. Demand from African and Asian buyers has also been better than last week. Meanwhile, neighbouring Bangladesh, which has emerged as a major rice importer since 2017 after floods damaged its crops, imported more than 3.5 million tonnes during the July to March period, and has already exceeded its previous annual import record, data from the country’s food ministry showed this week. Bangladesh could buy more rice in the next few months, given the high prices in the domestic markets.