Rice prices dropped this week in Thailand, Vietnam and India due to weak demand for the staple. Thailand benchmark 5% broken rice is quoted at $370-$375 a tonne, free-on-board (FOB) Bangkok, down from $375-$377 a tonne last week. The fall in prices can be attributed to the release of new crops. Export market demand is currently at a low level, perhaps due to buyers waiting to see whether a further slump in prices will occur or not. Prices in Thailand are expected to fall next week and remain relatively stable until the end of October, according to rice traders. Vietnam benchmark 5% broken rice RI-VNBKN5-P1 tightened slightly to $385-$390 a tonne this week, FOB Saigon, from $385-$395 last week. This drop has occurred as fresh demand was scarce after harvesting ended for the summer-autumn crops. The market has been quiet on low demand. Prices have declined in Thailand, so Vietnam’s prices also went down. In India, the world’s biggest rice exporter, 5-percent broken parboiled rice prices fell by $3 per tonne to $400 to $403 per tonne. Weak demand is the result of a strong rupee which dents export margins.