Prices of Indian export rice rose this week on good export demand and concerns over production of the summer-sown crop because of erratic rainfall, while fluctuations in Thailand's currency supported Thai export rates.
Top exporter India's 5% broken parboiled variety was quoted at $374-$378 a tonne this week, up slightly from $372-$375 a week ago.
"Rice production could fall in key states like West Bengal and Andhra Pradesh due to lower rainfall," said an exporter based at Kakinada in the southern state of Andhra Pradesh.
India received 14% less rainfall than the 50-year average in the week to Aug. 28, data from the India Meteorological Department (IMD) showed.
In neighbouring Bangladesh, Agriculture Minister Abdur Razzaque said the government is considering providing cash incentives to encourage rice exports.
Dhaka has been unable to clinch overseas deals since a long-standing export ban was lifted in May, with its rice more expensive than supplies from India or Thailand despite a recent fall in local prices.
Thailand's benchmark 5% broken rice prices were quoted at $410-$430 a tonne, a slightly narrower range from last week's $415-$430, traders said.
A firmer baht, Asia's best-performing currency this year, has kept prices high while supply shortages because of a continuing drought - the worst in a decade - has also played a major role in supporting prices.
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