MANILA, Philippines — The country’s rice inventory continued to increase in October by 6.5 percent, the Philippine Statistics Authority (PSA) said.
In its latest report, the PSA said total rice stocks inventory stood at 2.08 million metric tons (MT) as of Oct. 1, higher than the 1.95 million MT registered in the same period a year ago.
The current inventory is 43.5 percent higher than the 1.45 million MT registered the previous month.
Households accounted for the bulk of the inventory or 56.3 percent at 1.172 million MT. This was followed by commercial warehouses, with a 38.3 percent share at 798,120 MT.
Supplies from the National Food Authority (NFA) depositories cornered a 5.3 percent share at 111,040 MT.
Compared to the previous year’s level, rice stocks in households increased by 10.7 percent.
Rice stocks in commercial warehouses also went up by 9.5 percent. In contrast, stocks in NFA depositories decreased by 33.2 percent.
On a monthly basis, rice stocks in households jumped by 65.1 percent.
Stocks in NFA depositories also increased by 27.1 percent, while stocks in commercial warehouses posted a 1.2 percent month-on-month decrease.
Meanwhile, the country’s corn stocks inventory surged by 40.2 percent to 720,600 MT.
On a monthly basis, corn inventory also grew by 28.3 percent from the previous month’s 513,930 MT.
Corn stocks in commercial warehouses accounted for the bulk of the inventory or 70.9 percent at 510,570 MT.
Households accounted for 29.1 percent of the total inventory at 210,040 MT.
Compared to the previous year’s level, corn stocks in commercial warehouses increased by 69.8 percent, while stocks in households declined by 1.5 percent.
On a monthly basis, corn stocks in commercial warehouses went up by 9.6 percent while stocks in households increased by 119.4 percent.