January rice stocks good for 62 days

MANILA, Philippines - The country’s total rice stock inventory as of January remains sufficient for 62 days, according to the Bureau of Agricultural Statistics (BAS).

Of the current stock level, 59.7 percent were held in households, 27.4 percent were in commercial warehouses and 12.9 percent were in depositories of the National Food Authority (NFA).

In its latest Rice and Corn Stocks inventory, the BAS said stocks in households would last for 37 days while stocks in commercial warehouses would last for 17 days. Stocks in NFA depositories would last for eight days.

Total rice stock inventory in January was placed at P2.12 million metric tons (MT), down 14.7 percent month-on-month and 15.8 percent below year-on-year.

Month-on-month, stock levels in commercial warehouses and in the households decreased by 22.8 percent and 11.8 percent, respectively. Stocks in NFA depositories, of which 43.8 percent were imported rice, dropped by 8.4 percent.

Year-on-year, stocks held in households, commercial warehouses, and in NFA depositories declined by 3.2 percent, 6.2 percent, and 53.7 percent, respectively.

Corn stock inventory, meanwhile, stood at 168, 800 MT in January, 10.9 percent lower than the previous  month’s level of 189, 400 MT, but 4.7 percent higher than the inventory of 161, 300 MT in the same period last year.

Around 55.2 percent of the January corn stock inventory were with the commercial sector, 38.6 percent were held in households and 6.2 percent were with the NFA depositories.