The country’s rice inventory as of September 1 declined by almost 20 percent to 1.422 million metric tons (MMT), from 1.775 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 42 days.
“Stocks in the households would be enough for 20 days, those in commercial warehouses for 20 days and those in National Food Authority [NFA] depositories for two days,” the PSA said in its monthly report, titled “Rice and Corn Stocks Inventory September 2017” published on October 10.
Of the rice inventory as of September 1, the PSA said 48.42 percent were with the households, 46.97 percent were in commercial warehouses and 4.61 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 65,540 MT, while commercial warehouses accounted for 668,290 MT. Households accounted for 689,010 MT.
“Compared with the previous year, rice stocks in households and in commercial warehouses grew by 9.70 and 27.92 percent, respectively,” the report read.
“However, stocks in the NFA depositories dropped by 89.52 percent,” it added.
On a monthly basis, rice stocks across all sectors were lower compared to their levels in August.
The PSA said stocks in the households was down by 7.93 percent, while stocks held in commercial warehouses fell by 42.93 percent. Rice stocks in NFA depositories declined by nearly 40 percent month on month.
PSA data showed that the NFA’s rice stockpile as of September 1 of 65,540 MT was the lowest volume the state-run food agency held since November 1995, when its inventory reached only 65,700 MT.
Data from the PSA showed that the total rice inventory as of September 1 was nearly 30 percent lower than the 2.028 MMT posted in August. The PSA noted that the inventory during the period was the lowest since October 2007, when the national stockpile amounted to 1.375 MMT.
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 rose to 1.422 MMT, from last year’s record of 380,570 MT. The corn-stock inventory as of September 1 was also more than double the 696,460 MT recorded in August.
The PSA said the bulk of corn-stock inventory in September, or 88.98 percent, was in commercial warehouses, while households accounted for 10.98 percent. NFA depositories accounted for only 0.04 percent. Corn stocks in commercial warehouses amounted to 1.265 MMT; households, 156,210 MT; and NFA warehouses, 570 MT.
“Corn stocks in all sectors increased compared with their levels the previous year. Stocks in the households grew by 8.15 percent, in commercial warehouses by 435.97 percent and in NFA depositories by 1,681.25 percent,” the report read.
“Month on month, corn stocks in the households and commercial warehouses increased by 87.13 percent and 108.14 percent, respectively. On the other hand, stocks in NFA depositories decreased by 88.65 percent,” it added.