# Weak rupee, plentiful stocks drag India rates to over 5-year low | Daily FT

> Indian 5% broken parboiled rice export prices fell to their lowest in over five years, quoted at $350-354 per tonne. The rupee's record low against the dollar boosted exporter margins while supplies remained ample. Buyers are seeking 100% broken rice as a cheaper replacement for corn in animal feed.

- Date: 2022-06-03 · published 2022-06-03T12:00:00.000Z
- Category: market · region India · magnitude low
- Page: https://feedsoft.ai/events/41017-weak-rupee-plentiful-stocks-drag-india-rates-to-over-5-year-low-daily-ft
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md), [Corn](https://feedsoft.ai/c/CORN.md), [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Cheap broken rice as a feed substitute for corn increases feed-grade demand for rice and pressures corn's relative value. Weak rupee and ample stocks keep export prices low.

## Read by commodity

- CORN: bearish ▼
- RICE: bearish ▼
- USDINR: bullish ▲

## Sources

- ft.lk: https://www.ft.lk/agriculture/Weak-rupee-plentiful-stocks-drag-India-rates-to-over-5-year-low/31-735673

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.