The country will be ending the year with a 10-year high rice inventory of 3.27 million metric tons (MMT), which is enough to cover the country’s staple requirement for the first quarter of 2021 based on the Department of Agriculture’s (DA) projections.
“We would like to inform the public that based on our estimates, the country will enjoy an ending rice inventory of 3.27 million metric tons by December 31 this year,” Agriculture Secretary William D. Dar said in a news statement issued on Monday.
“That means we will have rice to feed the entire country for 94 more days, or three months, up to March 2021,” Dar added.
Based on figures of the Philippine Statistics Authority, this could be highest carry-over stocks inventory since 2011, when it reached a record 3.42 MMT.
The DA said the country’s rice supply this year, which is comprised of carry-over stocks, local production and imports, would reach nearly 18 MMT, which is about 18 percent higher than the total demand of 14.67 MMT.
Furthermore, the DA reiterated that its P8.5-billion Rice Resiliency Project (RRP) under the DA’s Plant, Plant, Plant Program, or the Ahon Lahat, Pagkaing Sapat (ALPAS) kontra Covid-19, would contribute to reach the projected rice output this year.
“We expect the rice resiliency project to add at least 1.03 MMT to our current projected local production of 12.76 MMT. This equates to elevating our sufficiency level by 7 percent, from 87 percent to 94 percent,” Dar said.
“To successfully attain said incremental harvest, we will continue to count on the strong support of local chief executives, particularly of rice-producing provinces, and hard work of our beloved farmers,” Dar added.
Under the RRP, the DA said it will provide farmers free quality rice seeds and fertilizers.
“It will be implemented on top of the DA’s existing rice programs such as the Rice Competitiveness Enhancement Fund [RCEF], and national inbred and hybrid rice program, thus covering more areas,” Dar said.
With the projections, the DA assures the public of enough rice throughout the enhanced community quarantine and beyond.
“Let us not create unnecessary panic in our food supply. Rest assured we remain keen and forward-looking to squarely address concerns that threaten our food security,” Dar said.