Rice prices in India slipped this week on expectations of a rise in supplies from the new season crop, while rates for the staple grain edged higher in Thailand as traders were optimistic about the possibility of demand from Sri Lanka. Thailand's benchmark 5-percent broken rice was quoted at $375-$388 a tonne, free-on-board (FOB) Bangkok, up from $375-$385 last week.

There looks to be demand from Sri Lanka, which we're optimistic will translate into more demand for Thai rice, said a Bangkok-based rice trader. The government of Sri Lanka has issued a tender to buy 200,000 tonnes of rice as recent floods in the country have destroyed crops.

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