Asia Rice-Demand lulls in top hubs; Bangladesh hopes for a deal with Philippines

* Indian prices rise to $367-$370/tonne vs $365-$367 last
week
* Bangladesh may export 200,000-300,000 T to
Philippines-minister
* Thai baht hits near 6-year high, dampening rice demand
* Vietnam rates down with abundant supplies from ongoing
harvest

By Diptendu Lahiri
BENGALURU, June 20 (Reuters) - Export prices for Indian rice
edged up this week on the back of an appreciation in the rupee
even as demand was lacklustre in most exporting centres, while
Bangladeshi traders looked for an export deal with the
Philippines.
For top rice exporter India, prices for the 5% broken
parboiled variety RI-INBKN5-P1 were quoted around $367-$370
per tonne this week, up from last week's $365-$367.
Export demand is weak and unlikely to revive in the next few
weeks unless prices correct, said one exporter based at Kakinada
in the southern state of Andhra Pradesh.
In neighbouring Bangladesh, traders are in talks with the
Philippines to strike a deal for rice exports, the country's
agriculture minister Abdur Razzak said earlier this week.
The South Asian country could export 200,000 tonnes to
300,000 tonnes of rice to the Philippines, he added.
Bangladesh, which usually produces parboiled rice, has
lifted its long-standing ban on rice exports, hoping to sell as
much as 1.5 million tonnes to support farmers after a sharp drop
in prices. However, it still finds it difficult to export rice even
after a fall in domestic prices, given the produce is more
expensive than in India and Thailand.
In Thailand, the world's second largest rice exporter,
prices widened to $390-$407 a tonne on Thursday, free on board
Bangkok (FOB), from $393-$404 a tonne last week.
Traders say the increase in prices can be attributed to a
seasonal decline in rice supply.
"It is normal that the price increases during the rainy
season, there is less supply and the logistic cost is higher," a
Bangkok-based rice trader said.
Thailand's baht THB=TH , which hit its highest in nearly
six years against the U.S. dollar on Thursday, is also boosting
prices for the staple, which continue to dampen demand for Thai
rice. "Demand has been flat since the start of the year and
exporters are only selling to their usual customers," another
Bangkok-based rice trader said.
"Supply will continue to decline through the rainy season
until at least August, when a new batch of rice will enter the
market."
Demand was uninspiring in Vietnam as well, where rates for
the 5% broken rice variety RI-VNBKN5-P1 fell to $340-$345 a
tonne on Thursday from $345-$350 last week, traders said.
"Trading activities are quiet this week on lacklustre
demand, though supplies from the ongoing summer-autumn harvest
are abundant," a trader based in Ho Chi Minh City said.
Traders said the harvest will end in two to three weeks.