Rice stocks drop in March

MANILA, Philippines — The country’s rice inventory continued to decline, but at a slower pace in March by 21.5 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 1.63 million metric tons (MT) as of March 1, lower than the 2.08 million MT registered in the same period a year ago.

The 21.5 percent decline is slower than the 26.6 percent drop in rice stocks recorded last month.

The  current inventory is 1.4 percent higher than the 1.609 million MT registered the previous month.

Households accounted for the bulk of the inventory or 53 percent at 864,920 MT. This was followed by commercial warehouses, with a 37.4 percent share at 611,330 MT.

Supplies from the National Food Authority (NFA) depositories cornered a 9.6 percent share at 156,260 MT.

Compared to the previous year’s level, rice stocks in households decreased by 29.7 percent.

Rice stocks in NFA depositories also declined by 41.1 percent.

In contrast, stocks in commercial warehouses increased by 4.6 percent from year ago levels.

On a monthly basis, rice stocks in households declined by two percent.

Stocks in NFA depositories also dropped by 13.8 percent, while stocks in commercial warehouses posted a 12.1 percent month-on-month increase.

Meanwhile, the country’s corn stocks inventory dropped by 28.7 percent to 448,310 MT as of March 1.

On a monthly basis,corn inventory dropped by 5.1 percent from the previous month’s 472,570 MT.

Corn stocks in commercial warehouses accounted for the bulk of the inventory or 73.6 percent at 330,140 MT.

In contrast,households accounted for 26.4 percent of the total inventory at 118,170 MT.

Compared to the previous year’s level, corn stocks in commercial warehouses dropped by 22.7 percent, while  stocks in households declined by 41.3 percent.

On a monthly basis, corn stocks in commercial warehouses dipped by 12.8 percent, while stocks in households increased by 25.5 percent.