Rice stocks continue to decline
MANILA, Philippines — The country’s rice inventory fell three percent to 2.02 million metric tons in August, according to the latest data from the Philippine Statistics Authority (PSA).
Stock inventory of Filipinos’ main staple will be sufficient for 60 days, the PSA said.
Stocks held by households are sufficient for 22 days while those in commercial warehouses are good for 34 days.
The National Food Authority, meanwhile, has depositories enough only for three days when it is supposed to have a 30-day buffer stock since it is the lean season.
Commercial warehouses held more than half of total inventories at 58 percent while households held 37 percent. Supplies from NFA depositories cornered five percent of the total.
On a monthly basis, rice stocks in all sectors decreased in households (25 percent), commercial (two percent) and NFA depositories (30 percent).
Stocks are expected to boost until next month as the 250,000 MT rice import has started to arrive in the country.
Meanwhile, corn stock inventory stood at 696,460 MT as of end-August, significantly higher than the 40,140 MT registered year-on-year.
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