Benchmark Thai rice price falls to $900-$920 a tonne

BANGKOK, May 6 (Reuters) - The benchmark Thai rice price fell around 10 percent on Tuesday due to rising supply and lower demand after the Philippines scrapped a rice tender, exporters and traders said.

Five Thai exporters quoted prices for 100 percent B trade white rice in a range of $900-$920 a tonne, free on board, down from last week's $990-$998 a tonne, traders said.

"Prices have peaked and forced buyers to hold back on orders. Now is the time for a correction," a trader who works at an international trading house said.

However, Thai rice prices were not expected to fall too sharply over the next few weeks as buyers took advantage of price dips, exporters said. (Reporting by Apornrath Phoonphongphiphat; Editing by Darren Schuettler)