The country’s rice inventory as of September 1 reached 1.45 million metric tons (MMT), 8.9 percent higher than last year’s 1.332 MMT, the latest government data showed.
However, the rice stocks were 10.1 percent lower than the 1.613 MMT recorded in August, according to the Philippine Statistics Authority’s (PSA) monthly rice and corn inventory report.
September is the last month in the country’s so-called lean season, when domestic rice output is usually minimal.
Despite growing by almost a double-digit growth rate on an annual basis, the country’s total rice stocks as of September 1 was the lowest in the past 12 months or since the 1.332 MMT recorded a year ago, historical PSA data showed.
Rice stocks in households reached 710,340 metric tons (MT) while those in commercial entities were estimated at 628,160 MT. NFA warehouses had 112,380 MT of rice supply during the reference period.
PSA said rice stocks in households and commercial entities (warehouses/wholesalers/retailers) rose on an annual basis while the inventory in NFA warehouses declined.
“Relative to the previous year’s records, rice stocks inventory in the households and commercial warehouses/wholesalers/retailers rose by 11.3 percent and 15.7 percent, respectively. However, stocks inventory level in NFA depositories contracted by -25.7 percent,” it said.
“Rice stocks in all sectors were down compared with the previous month’s levels. Stocks in the households fell by -10.3 percent, in commercial warehouses/wholesalers/retailers by -8.6 percent, and in NFA depositories by -16.5 percent.”
In the same report, the PSA said the country’s corn inventory as of September 1 inched up to 561,700 MT from 560,610 MT in the same period a year ago.
“On the other hand, the total corn stocks inventory in September 2022 decreased by -17.3 percent, from the previous month’s level of 679.13 thousand metric tons.”
The PSA said 83 percent of the total corn stocks inventory during the reference period were from commercial warehouses/wholesalers/retailers while the remaining volume of 17 percent were from households.
Total corn inventory stored in commercial entities reached 465,950 MT while those in households were estimated at 95,750 MT.
“Relative to the September 2021 inventory level, corn stocks in commercial warehouses/wholesalers/retailers as of 01 September 2022 showed an increment of 24.8 percent. However, stocks inventory level in the households dropped by -48.9 percent,” the PSA said.
“Corn stock inventory level fell by -21.5 percent from the previous month’s record in commercial warehouses/wholesalers/retailers, while household stocks inventory level increased by 12.1 percent.”