Thailand rice prices little changed; Indian rates fall.

Rice prices in Thailand were little changed this week amid government initiatives aimed at boosting the domestic market, while rates for the staple grain in India fell due to sluggish demand and fresh supplies. Thailand’s benchmark 5-percent broken rice was quoted at $375-$387 a tonne, free-on-board (FOB) Bangkok, compared with $382-$386 a tonne last week. The country’s Ministry of Commerce has introduced policies including payments of 1,500 baht, or about $45 per tonne, to farmers to encourage them to store rice in warehouses to avoid oversupply. India’s 5 percent broken parboiled rice prices eased by $3 to $397-$400 per tonne on sluggish demand and as supplies from a new season crop started in southern India. African buyers are on the sidelines. India mainly exports non-basmati rice to African countries.