The country’s rice inventory as of October 1 declined by 15.34 percent to 1.935 million metric tons (MMT), from 2.286 MMT a year ago, according to the latest report of the Philippine Statistics Authority (PSA).
The PSA said the total rice inventory during the period is equivalent to the rice-consumption requirement of Filipinos for 57 days.
“Stocks would be enough for 32 days in the households, 21 days in commercial warehouses, and five days in NFA [National Food Authority] depositories,” the PSA said in its monthly report, titled “Rice and Corn Stocks Inventory September 2017” published on November 16.
Of the rice inventory as of October 1, the PSA said 55.35 percent were with the households, 36.42 percent were in commercial warehouses and 8.23 percent were in NFA depositories. Less than 1 percent of NFA stocks consisted of imported rice.
PSA data showed that NFA stocks during the period reached 159,350 metric tons (MT), while commercial warehouses accounted for 704,950 MT. Households accounted for 1.071 MMT.
“Compared to the previous year, an increase of 8.16 percent was recorded in the households’ stocks inventory level,” the report read.
“However, rice stocks in commercial warehouses and NFA depositories dropped by 10.53 percent and 68.63 percent, respectively,” it added.
On a monthly basis, rice stocks across all sectors were higher compared to their levels in September.
The PSA said stocks in the households was up by 55.52 percent, while stocks held in commercial warehouses grew by 5.49 percent. Rice stocks in NFA depositories more than doubled on a monthly basis with the arrival of imports to beef up the agency’s stockpile.
Data from the PSA showed that the total rice inventory as of October 1 was 36.06 percent
higher than the 1.422 MMT posted in September.
The government periodically monitors rice inventory to determine whether it would need to import the staple to boost local stocks.
PSA data also showed that total corn-stock inventory during the period more than doubled to 1.368 MMT, from last year’s record of 543,850 MT.
However, the corn-stock inventory as of October 1 was 3.75 percent lower than September’s 1.422 MMT.
The PSA said the bulk of corn-stock inventory in October, or 87.20 percent, was in commercial warehouses, while households accounted for 12.76 percent. NFA depositories accounted for only 0.04 percent.
Corn stocks in commercial warehouses amounted to 1.193 MMT; households, 174,600 MT; and NFA warehouses, 550 MT.
“Compared to the previous year, a decrease of 40.75 percent was seen on stock inventory in the households, while there was an increase of 379.51 percent in commercial warehouses and 120 percent in NFA depositories,” the report read.
“On a monthly basis, corn stocks in the households grew by 11.77 [percent], while both in the commercial warehouses and NFA depositories dropped by 5.67 percent and 3.51 percent, respectively,” it added.