The country’s total rice inventory at the onset of the lean season stood at 2.233 million metric tons (MMT), 6.1 percent higher than the 2.104 MMT recorded in the same period of last year, the Philippine Statistics Authority (PSA) said.
“Month-on-month, rice stocks inventory fell by 11.8 percent from the previous month’s inventory of 2,530.82 thousand metric tons,” the PSA said in its monthly report on the country’s rice and corn stocks inventory.
Historical PSA data showed that nationwide rice inventory as of July 1 declined for the third consecutive month. PSA data also showed that it is the lowest in four months, since the 2.080 MMT recorded in March.
The PSA said about 46.7 percent of the July 1 rice inventory were stored in commercial warehouses/wholesalers/retailers while 44.1 percent were in households.
The PSA added that rice held by National Food Authority (NFA) warehouses accounted for 9.2 percent of the total volume.
PSA data showed that rice inventory in the commercial sector reached 1.041 MMT, while staple stored in households was at 985,550 MT. Rice stocks in NFA warehouses were estimated at 205,820 MT, based on PSA data.
“Relative to the previous year’s level, rice stocks in households and NFA depositories declined by 8.2 percent and 7.5 percent, respectively. However, rice stocks in commercial warehouses/wholesalers/retailers rose by 28.9 percent,” it said.
“In comparison with previous month’s level, rice stocks in households, commercial warehouses/wholesalers/retailers and NFA depositories contracted by 13 percent, 11.2 percent, and 8.6 percent, respectively,” it added.
In the same report, the PSA said nationwide corn stocks inventory as of July 1 expanded by 24.6 percent to 924,250 MT from 741,660 MT recorded in the same period of last year.
However, the latest corn inventory was 3.9 percent lower than the 962,070 MT recorded in June, the PSA added.
“Total corn stocks for the month comprised of 10.7 percent from households and 89.3 percent from commercial warehouses/wholesalers/retailers,” it said.
Corn stocks held by the commercial sector reached 825,750 MT while household corn inventory was estimated at 98,500 MT, based on PSA data.
“Year-on-year, corn stocks in households and commercial warehouses/wholesalers/retailers rose by 28 percent and 24.2 percent from its respective levels in the previous year,” it said.
“The corn stocks in households dropped by 29.2 percent compared with the previous month’s level. However, corn stocks in commercial warehouses/wholesalers/retailers increased by 0.3 percent,” it added.
Image courtesy of Nonie Reyes