The country’s rice inventory as of November fell slightly to 2.962 million metric tons from last year’s 3 MMT, the Philippine Statistics Authority (PSA) said on Tuesday.
However, data from the PSA showed that on a monthly basis, the inventory was 30 percent higher than October record of 2.279 MMT.
The PSA monthly report on the country’s rice inventory noted that the expansion month-on-month was driven by higher recorded inventory levels in households, commercial warehouses and National Food Authority (NFA) depositories.
Of the total rice stocks during the reference period, more than half, or 1.526 MMT, were held by households, while 33.1 percent, or 981,690 metric ton, were in commercial warehouses. The remaining 15.3 percent or 454,080 MT was in NFA warehouses.
“Compared with previous year’s record, rice stocks in households and commercial warehouses declined by 2.0 percent and 26.7 percent, respectively. However, a surge of 334.8 percent was recorded in NFA depositories,” the PSA said in the report.
“With reference to the previous month’s inventory level,
rice stocks in households, commercial warehouses and NFA depositories grew by
45.1 percent, 17.9 percent, and 15.0 percent, respectively,” it added.
In the same report, the PSA said the country’s total corn inventory rose by 87.4 percent during the reference period to 1.198 MMT from last year’s 639,520 MT.
“Likewise, this was higher by 9.4 percent from the preceding month’s level of 1,095.92 metric tons ,” it said.
“Of this month’s total corn stocks inventory, 18.6 percent were from the households and 81.4 percent were from commercial warehouses,” it added.
Corn stocks in commercial warehouses doubled to 975,970 MT from last year’s 485,340 MT while household inventory rose by 44.3 percent to 222,530 MT from 154,180 MT, PSA said.
“Year-on-year, an increase of 44.3 percent in corn stocks inventory level was reported in the households. Similarly, stocks in the commercial warehouses were higher by 101.1 percent,” it said.
“Corn stocks in the hous holds declined by 27.1 percent with reference to the previous month’s level. Nonetheless, an increase of 23.4 percent was noted in the stocks of commercial warehouses,” it added.