RPT-Asia Rice-Indian rates ease as rupee flounders, labour woes hit Bangladesh

(Repeats April 23 story without changes)
* Vietnam's 5% broken rice seen at $440-$450 per tonne
* Vietnam ups white rice exports quota, traders say not
enough
* Thai rates at $530-$556 a tonne vs $530-$538 last week

By Eileen Soreng
BENGALURU, April 23 (Reuters) - Rice export prices in India
eased from a eight-month peak this week on the rupee's record
fall, while the coronavirus lockdown has raised concerns about a
shortage of labour to harvest the summer crop in neighbouring
Bangladesh.
Top exporter India's 5 percent broken parboiled variety
RI-INBKN5-P1 was quoted $374-$379 per tonne this week, down
from $375-$380 per tonne quoted last week.
"The lockdown has been limiting the movement of paddy and
milled rice," said an exporter based at Kakinada in southern
state of Andhra Pradesh, adding that demand from African
countries had been good.
India extended a lockdown on its 1.3 billion people until at
least May 3 as the number of coronavirus cases exceeded 20,000.
The Indian rupee INR=D4 hit a record low this week,
increasing traders' margin from overseas sales.
In Bangladesh, where the lockdown has been extended until
May 5, harvesting of the summer rice crop varieties could be
affected due to a shortage of labourers.
If this persists, Bangladesh could miss its target of 20
million tonnes for the "Boro" summer variety rice crop this
season, agricultural ministry officials said.
Boro contributes more than half of Bangladesh's typical
annual rice output of around 35 million tonnes.
Meanwhile in Vietnam, rates were nominal since exporters
were not ready to sign new contracts, given uncertainty over
whether they can ship the rice due to the government's export
quota, a Ho Chi Minh City-based trader said.
However, prices for 5% broken rice RI-VNBKN5-P1 were
quoted at $440-$450 per tonne - their highest in nearly
two-years. "Buyers are not willing to sign contracts as they are
not sure if they can buy," the trader said.
The Vietnamese government said on Wednesday it would raise
its white rice exports quota for April to 500,000 tonnes from
400,000 tonnes. Traders said the 500,000 tonnes of rice to be exported this
month were not enough to cover contracts signed before the
government introduced a ban on rice exports in March.
Thailand's benchmark 5-percent broken
rice RI-THBKN5-P1 prices were quoted at $530-$556, wider from
last week's $530-$538.
Traders say rice prices have not fluctuated much as demand
has been steady with no major deals in sight.
"Many Thai exporters are waiting to see how the return of
rice exports from competitors like Vietnam will impact prices
and demand, after the disruption from the COVID-19 pandemic," a
Bangkok-based rice trader said.
Disruptions to sale by major exporters like Vietnam and
India earlier this month raised the price of Thai rice to their
highest level since April 2013.
Concerns over possible shortages of rice supply due to the
ongoing drought continue to impact prices as well, traders said.