RPT-Asia Rice-India export prices hit 9-month peak as demand recovers

(Repeats with no change to text)
* Drought in Thailand likely to drag on until July
* Thai rates at $535-$557 a tonne vs $530-$556 last week
* Many Indian exporters facing logistical problems -trader
* Bangladesh's summer rice crop seen 0.51% up this year -
USDA

By Eileen Soreng
BENGALURU, April 30 (Reuters) - Rice prices in top exporter
India hit a nine-month high this week, boosted by a pick-up in
demand from African countries even as supplies remain
constrained due to corovirus-led lockdowns, while droughts in
Thailand supported rates in the absence of new deals.
India's 5% broken parboiled variety RI-INBKN5-P1 was
quoted at $378-$383 per tonne this week, the highest since the
first week of August, and up from $374-$379 per tonne quoted
last week.
"Many exporters couldn't sign new deals due to the lockdown.
They are facing logistical problems and it is keeping prices
firm," said an exporter based in Kakinada in the southern state
of Andhra Pradesh.
Rice traders earlier this month resumed signing new export
contracts, after a gap of nearly three weeks as the government
adopted stiff restrictions to curb the spread of the virus.
India extended the nationwide lockdown on its 1.3 billion
people until at least May 3 to curb the outbreak, as the number
of coronavirus cases exceeded 33,000. In Thailand, traders said there are no new deals but the
ongoing drought has limited rice supplies and kept rates
elevated.
Thailand's benchmark 5% broken rice RI-THBKN5-P1 prices
were quoted a tad higher this week at $535-$557 from last week's
$530-$556.
The ongoing drought in Thailand, which started last
November, is likely to drag on until July. However, some rainy
days in rice-growing provinces this month have lifted hopes the
drought might end soon.
"The rain has eased worries, and it's possible that we'll
have ample water for crops later in the year," said a
Bangkok-based trader.
Meanwhile, Bangladesh's summer rice crop this year is likely
to edge up 0.51% to 19.5 million tonnes from a year earlier,
despite concerns about a shortage of labour to harvest the crop
amid a nationwide lockdown, the U.S. Department of Agriculture
(USDA) said.
"Farmers, although concerned about a labour shortage during
harvest, believe this year's crop has benefited from favourable
weather and no major pest or disease infestations," the federal
agency said in a report on the country, released earlier this
week.
Labour, transportation, storage and processing costs are
expected to rise due to the novel coronavirus outbreak in the
country, USDA said. Domestic rice prices are also at a two-year
high as people resorted to panic buying.
Summer-sown rice crop, locally known as Boro, contributes
more than half of Bangladesh's typical annual rice output of
around 35 million tonnes.
Rates for Vietnam's 5% broken rice variety RI-VNBKN5-P1
were unavailable due to a public holiday.