Rice prices fall in Asia on weak demand, Bangladesh steps up imports.

In Thailand, benchmark 5-percent broken rice RI-THBKN5-P1 was quoted at $420-$430 a tonne, free-on-board (FOB) Bangkok, down from $432-$440 a tonne last week. Weak overseas demand and a falling baht have led traders to quote lower prices to attract buyers. In Vietonneam, the benchmark 5-percent broken rice RI-VNBKN5-P1 dropped to $405-$410 a tonne this week, FOB Saigon, down from $410-$415 last week. There were also concerns over the quality and production of the grain in the harvest period. India 5 percent broken parboiled rice prices RI-INBKN5-P1 eased by $2 per tonne to $419 to $422 on faltering demand from buyers in Africa. Bangladesh is buying 200,000 tonnes of Vietonneamese white rice at $430 a tonne and 50,000 tonnes of parboiled rice at $470 a tonne in a state-to-state deal – at rates much higher than in the previous three tenders.