India rice rates up on steady demand; stronger baht props up Thailand rates.

Rice prices rose in top exporter India this week on healthy demand amid lower supplies, while gains in the local currency and prospects of a deal with the Philippines pushed up rates for the staple grain in Thailand. India’s 5% broken parboiled rice prices rose by $3/tonne to $422-$426, the second straight week of gains.Inquiries are rising from African countries. Asian buyers are also showing interest, said an exporter based in Kakinada in the southern state of Andhra Pradesh.Supplies are falling, forcing exporters to quote higher prices, said another exporter also based in Kakinada. India’s non basmati rice exports during April-December jumped 39.5 percent from a year ago as Bangladesh and Benin raised purchases. Meanwhile, demand for the grain from Bangladesh, which has emerged as a major rice importer since 2017 after floods damaged its crops, would stay strong for the next few months, given the high domestic rates.