* India and Thai rice prices down on thin demand
* Vietnam prices edge up due to limited supply
* Philippines approves plan to import more rice
By My Pham, Patpicha Tanakasempipat and Rajendra Jadhav
HANOI, Dec 14 (Reuters) - Rice export prices in India and Thailand dropped this week on thin demand while prices edged up in Vietnam on Philippines' purchase plan amid a slowing harvest, traders said on Wednesday.
Vietnam's 5-percent broken rice
RI-VNBKN5-P1
prices edged up to $338-$340 a tonne, FOB basis, from $335-$340 a week ago, traders said.
"Prices recovered a little after Philippines' plan to buy rice from Vietnam," a trader in Ho Chi Minh said.
"Bad weather also slowed down the harvest, which slightly tightened supply," he added.
The Philippines' state grains agency approved permits for local rice traders to import 294,020 tonnes of the staple from Vietnam and 347,060 tonnes from Thailand, Pakistan and India.
Meanwhile, in India, the world's biggest rice exporter, 5-percent broken parboiled rice prices dropped $3 per tonne this week to $344 to $348 per tonne, free-on-board (FOB) basis, as demand remained weak and supply levels improved.
"Supplies from the summer-sown crop have been rising but demand is still weak," said an exporter based at Kakinada in southern Indian state of Andhra Pradesh.
He said local prices could correct further in the coming weeks due to rising supplies, adding that they have to become competitive to secure new export orders.
Supplies were affected in the last few weeks due to a currency crunch, but they are now rising in all key producing states, exporters said.
Trading of farm commodities such as cotton, rice and soybean was disrupted after Prime Minister Narendra Modi scrapped 500 rupee and 1,000 rupee bills to crack down on corruption last month.
India's summer-sown rice output is seen at a record 93.88 million tonnes in the crop year to June 2017, 2.81 percent higher than last year, as plentiful monsoon rains help boost yields after back-to-back drought years, the farm ministry said.
Likewise, Thailand's benchmark 5-percent broken rice
RI-THBKN5-P1
prices also edged down to $355-$360 a tonne on Wednesday, FOB basis, from $360-$365 last week due to quiet market.
"There's no buyers, so prices drop a little," a trader in Bangkok said. "But when an order comes in, prices will jump again," he added.
Thailand will be harvesting new supply in a month in the central region, which might affect prices, another said.
However, the Philippines' plan to import 284,780 tonnes of rice from Thailand will hold up prices, he added.
(Reporting by My Pham in HANOI, Patpicha Tanakasempipat in BANGKOK and Rajendra Jadhav in MUMBAI, writing by My Pham, editing by David Evans) ((my.pham@tr.com; +844 3825 9623; Reuters Messaging: my.pham.thomsonreuters.com@reuters.net))
* Vietnam prices edge up due to limited supply
* Philippines approves plan to import more rice
By My Pham, Patpicha Tanakasempipat and Rajendra Jadhav
HANOI, Dec 14 (Reuters) - Rice export prices in India and Thailand dropped this week on thin demand while prices edged up in Vietnam on Philippines' purchase plan amid a slowing harvest, traders said on Wednesday.
Vietnam's 5-percent broken rice
"Prices recovered a little after Philippines' plan to buy rice from Vietnam," a trader in Ho Chi Minh said.
"Bad weather also slowed down the harvest, which slightly tightened supply," he added.
The Philippines' state grains agency approved permits for local rice traders to import 294,020 tonnes of the staple from Vietnam and 347,060 tonnes from Thailand, Pakistan and India.
Meanwhile, in India, the world's biggest rice exporter, 5-percent broken parboiled rice prices dropped $3 per tonne this week to $344 to $348 per tonne, free-on-board (FOB) basis, as demand remained weak and supply levels improved.
"Supplies from the summer-sown crop have been rising but demand is still weak," said an exporter based at Kakinada in southern Indian state of Andhra Pradesh.
He said local prices could correct further in the coming weeks due to rising supplies, adding that they have to become competitive to secure new export orders.
Supplies were affected in the last few weeks due to a currency crunch, but they are now rising in all key producing states, exporters said.
Trading of farm commodities such as cotton, rice and soybean was disrupted after Prime Minister Narendra Modi scrapped 500 rupee and 1,000 rupee bills to crack down on corruption last month.
India's summer-sown rice output is seen at a record 93.88 million tonnes in the crop year to June 2017, 2.81 percent higher than last year, as plentiful monsoon rains help boost yields after back-to-back drought years, the farm ministry said.
Likewise, Thailand's benchmark 5-percent broken rice
"There's no buyers, so prices drop a little," a trader in Bangkok said. "But when an order comes in, prices will jump again," he added.
Thailand will be harvesting new supply in a month in the central region, which might affect prices, another said.
However, the Philippines' plan to import 284,780 tonnes of rice from Thailand will hold up prices, he added.
(Reporting by My Pham in HANOI, Patpicha Tanakasempipat in BANGKOK and Rajendra Jadhav in MUMBAI, writing by My Pham, editing by David Evans) ((my.pham@tr.com; +844 3825 9623; Reuters Messaging: my.pham.thomsonreuters.com@reuters.net))
