Vietnam rice rates up for fifth week; currency moves weigh on India, Thailand.

Rice export prices rose for a fifth straight week in Vietnam as demand remained robust and supplies thinned, but rates of Indian and Thai varieties dipped amid weakness in the local currencies of the top exporters. Vietnam’s 5 percent broken rice prices rose to $445-$450 from $438-$440 previously. Demand is very high, while supplies are getting thin. The Philippines will meet exporters from Vietnam and Thailand on Friday to discuss a 250,000 tonne deal, and it may buy more for the rest of the year. The Vietnamese government is also buying rice for stockpiling under its national reserve programme, the trader said, adding that Bangladesh could also buy rice from the country in June or July.