In India, the world's biggest rice exporter, 5-percent broken parboiled rice dropped $2 this week to $341 to $345 per tonne as a cash crunch in December prevented farmers from offloading a summer-sown crop, and as the rupee depreciated against the dollar. 

In November, the Indian government scrapped 500-rupee and 1,000-rupee bills to crack down on corruption. The move disrupted trading of farm commodities such as cotton, rice and soybean as most farmers prefer payments in cash.

India's summer-sown rice output is seen at a record 93.88 million tonnes in the crop year to June 2017, 2.81 % higher than last year, as a good monsoon help boost yields, the farm ministry said.