The country’s rice inventory as of September 1 declined to 1.78 million metric tons (MMT), compared to 1.96 MMT recorded in the same period last year, according to the Philippine Statistics Authority (PSA).
Despite the decline, the PSA said in its monthly report titled Rice and Corn Stocks Inventory, the country’s rice inventory in September was enough for 51 days.
“The total rice inventory for this month would be adequate for 51 days. Stocks in the households would be good for 18 days, those in commercial warehouses for 15 days, and those in NFA [National Food Authority] depositories for 18 days,” the report read.
Of the rice inventory as of September 1, the PSA said 35.37 percent were with households and 29.42 percent were in commercial warehouses, while 35.21percent were stored in NFA warehouses. Almost 80 percent of NFA stocks consisted of imported rice. PSA data showed that NFA stocks during the period reached 625,210 metric tons (MT), while commercial warehouses accounted for 522,450 MT. Rice in households reached 628,110 MT.
“Year-on-year, rice stocks in the households increased by 9.94 percent. However, stocks in commercial warehouses and in NFA depositories decreased by 10.17 percent and 22.10 percent, respectively,” the report read.
On a monthly basis, rice stocks in all sectors were lower, compared with those in August. The PSA said stocks in the households dropped by 9.44 percent, in commercial warehouses by 15.95 percent and in NFA depositories by 20.66 percent. The lean season for rice started in July and ended last month. Local farmers usually do not harvest rice in the third quarter. The PSA data also showed that the country’s corn inventory as of September 1 grew by 15.67 percent to 380,570 MT, from 329,000 MT recorded a year ago. The September corn inventory is also 13.1 percent higher than last month’s inventory of 336,480 MT.
“Compared with last year, corn stocks in the households and in commercial warehouses increased by 3.61 percent and 25.19 percent, respectively. On the other hand, stocks in NFA depositories decreased by 96.80 percent,” the report read.
The PSA said 62.04 percent of total corn inventory in August were in commercial warehouses, while 37.95 percent were held by households.
Corn in commercial warehouses reached 236,100 MT, stocks in households accounted for 144,440 MT of the total inventory, while corn stored in NFA warehouses amounted to only 30 MT.