* Thai prices unchanged, but still near June 2018 high
* Vietnamese rice rates slump 13% from the beginning of 2019
By K. Sathya Narayanan
BENGALURU, Sept 19 (Reuters) - Indian rice export pricesrose this week on a resurgent rupee, while sluggish demand keptVietnamese rates near a 12-year low even as the country looks toencourage private investment to make its rice more competitive.
Top exporter India's 5% broken parboiled variety<RI-INBKN5-P1> rose to around $373-$379 per tonne from $370-$376a week ago, despite faltering demand from African countries.
The rupee on Thursday moved further away from anear two-week low touched earlier in the week.
Buying from west African countries, especially from keybuyer Benin, has been faltering, said Nitin Gupta, vicepresident for Olam India's rice business.
Meanwhile, Vietnam's 5% broken rice <RI-VNBKN5-P1> rateswere unchanged at $325 per tonne, their lowest since November2007, as "trading activity remains subdued on weaker demand," aHo Chi Minh City based trader said.
A lack of fresh deals has squeezed the Vietnamese market,with prices now about 13% lower than at the beginning of theyear.
The country is seeking to encourage private investment inmodernising local rice processing and storage facilities inorder to raise competitiveness, state media reported onThursday, citing an official with the Ministry of Agricultureand Rural Development.
Prices for second-biggest exporter Thailand's benchmark 5%broken rice <RI-THBKN5-P1> were also unchanged at $400-$418 atonne on lack of demand and little fluctuation in the exchangerate between the baht and U.S. dollar.
At an average of $409, Thai rice was still near its highestsince June 2018.
Demand remains flat as higher prices have deterred buyers,traders said. A strong baht has kept rates elevated comparedwith competitors since the start of the year.
However, concerns over supply persist due to ongoing floodsin northeastern Thailand, along with estimated damage to morethan 240,000 hectares of agricultural land from floods caused bytropical storm Podul.
"At the moment there are no immediate concerns over supplybut we will have to see how much the flood will impact ricesupply towards the end of the year," a Bangkok-based tradersaid.
Bangladesh, also recovering from a devastating flood, iscontemplating whether to introduce newer rice varieties andtechnology to try to reduce production costs and boost domesticoutput, Agriculture Minister Abdur Razzaque said.
Dhaka has been unable to clinch overseas deals since along-standing export ban was lifted in May, with its rice moreexpensive than India's or Thailand's, despite a recent fall inlocal prices.(Reporting by Khanh Vu in Hanoi, Panu Wongcha-um in Bangkok,Ruma Paul in Dhaka and Rajendra Jadhav in Mumbai; Editing byMark Potter)