Rice stocks down 23% in November

MANILA, Philippines — The country’s rice inventory continued to drop in November, declining by 23.4 percent, the Philippine Statistics Authority (PSA) said.

In its latest rice and corn stocks inventory report, the PSA said total rice stocks inventory stood at 2.4 million metric tons (MT) as of Nov. 1, lower than the 3.16 million MT registered in the same period a year ago.

The figure, however, marked  a 23.7 percent increase from  the 1.95 million MT registered the previous month.

Households accounted for the bulk of the inventory or 55.1 percent at 1.33 million MT. This was followed by commercial warehouses with a 34.8 percent share at 841,740 MT.

Supplies from the National Food Authority (NFA) depositories cornered 10.1 percent at 244,320 MT.

Compared to the previous year’s level, rice stocks in households dropped by 26.4 percent.

Rice stocks in commercial warehouses and NFA depositories  declined by 12.6 percent and 36.6 percent, respectively.

On a monthly basis, rice stocks in households grew by 25.7 percent.

Stocks in commercial warehouses and NFA depositories also increased by 15.5 percent and 46.9 percent, respectively.

Meanwhile, the PSA  reported that the country’s corn stocks inventory dropped by 45.7 percent to 554,680 MT as of Nov.1.

On a monthly basis,corn inventory increased by  7.9 percent from the previous month’s 513,930 MT.

Corn stocks in commercial warehouses accounted for the bulk of the inventory or 76 percent at 421,320 MT.

In contrast,households accounted for 24 percent of the total inventory at 133,360 MT.