Rice stocks decline in 11 months

MANILA, Philippines — The country’s rice inventory continued its downward trend, declining anew by10 percent to 2.95 million metric tons (MT) in November, according to the latest data from the Philippine Statistics Authority (PSA).

The PSA reported total rice inventory was lower than the 3.3 million MT recorded a year earlier, but was 53 percent higher than the 1.9 million MT  in October.

Stock inventory of Filipinos’ main staple will be sufficient for 87 days, the PSA said.

Stocks held by households are sufficient for 52 days while those in commercial warehouses are good for 29 days.

The National Food Authority, meanwhile, has depositories enough only for six days when it is supposed to have a 15-day buffer stock.

Households had more than half of total inventories at 60 percent, while commercial warehouses held about 33 percent.

Supplies from NFA depositories cornered seven percent of the total.

On a monthly basis, rice stocks in all sectors went up in households at 66 percent, commercial at 39 percent and NFA depositories at 20 percent.

Stocks are expected to boost until the end of the year as the main crop harvest season began in October.

Meanwhile, corn stock inventory stood at 603,290 million MT or almost the same volume as last year’s level.

Of the total, 81 percent was in commercial warehouses, 18 percent in households, and less than one percent in NFA depositories.

Month-on-month, corn stocks in all sectors went down by 59 percent in commercial warehouses, 35 percent in households and four percent in NFA depositories.