RPT-Asia Rice-Strong demand lifts Indian rates, Thai prices buoyant

(Repeats item with no changes)
* Vietnamese August rice exports expected to dip
* Dhaka struggles to clinch deals despite lower rates
* Indian rates at $374-$378/t vs $372-$375 last week

By Karthika Suresh Namboothiri
BENGALURU, Aug 29 (Reuters) - 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
RI-INBKN5-P1 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 RI-THBKN5-P1 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.
The Thai government this week announced 21 billion baht
($682 million) of subsidies to help farmers affected by the
drought and the strong baht.
Elsewhere, tepid demand kept rates for Vietnam's 5% broken
rice RI-VNBKN5-P1 unchanged from last week at $335-$340 a
tonne amid slow trading activity.
"It's been quiet this week, with no major export deals, due
to weak demand," said one trader based in Ho Chi Minh City.
Preliminary data showed only 29,600 tonnes of rice is
scheduled to be loaded at Ho Chi Minh City ports over Sept.
1-10, with 23,000 tonnes bound for West Africa and the rest for
the Philippines, traders said.
Government data released on Thursday showed Vietnam exported
4.53 million tonnes of rice in the first eight months of this
year, little changed from the same period last year.
August rice exports are estimated at 580,000 tonnes,
compared with 598,619 tonnes in July.