PHL rice inventory down 22% in February
The country’s rice inventory in February declined by nearly 22 percent to 2.3 million metric tons (MMT), from 2.94 MMT recorded a year ago, according to the latest data from the Philippine Statistics Authority (PSA).
Data from the PSA showed that total rice inventory as of February 1 was also 16.95 percent lower than the 2.77 MMT posted in January.
Despite the decline in stocks, the PSA said the total rice inventory is sufficient to meet the rice-consumption requirement of Filipinos for 68 days.
“Stocks in the households would be good for 34 days, those in commercial warehouses for 20 days, and those in NFA [National Food Authority] depositories for 14 days,” the PSA said in its monthly report, titled “Rice and Corn Stocks Inventory February 2017“, published over the weekend.
Of the rice inventory as of February 1, the PSA said 49.87 percent were with the households, 29.87 percent were in commercial warehouses, while 20.26 percent were in NFA depositories. Almost 79 percent of NFA stocks consisted of imported rice.
PSA data showed that NFA stocks during the period reached 465,260 MT, while commercial warehouses accounted for 685,960 MT. Households accounted for 1.145 MMT.
“Year-on-year, rice stocks in the households increased by 13.98 percent,” the PSA said in the report.
“However, stocks in commercial warehouses and in NFA depositories decreased by 27.21 percent and 53.28 percent, respectively,” it added.
On a monthly basis, rice stocks in all sectors were lower compared with their levels in January. The PSA said stocks in the households dropped by 9.81 percent, in commercial warehouses by 27.65 percent, and in NFA depositories by 15.01 percent.
The government periodically monitors rice inventory to determine whether it would need to import the staple to boost local stocks.
During the same period, PSA data showed that total corn-stock inventory expanded by 41.04 percent to 439,570 MT, from last year’s record of 311,670 MT. The corn-stock inventory as of February 1 was also 15.03 percent higher compared to January’s level of 382,130 MT.
The PSA said the bulk of corn-stock inventory in February, or 64.86 percent, was in commercial warehouses, while households accounted for 34.6 percent. NFA depositories accounted for only 0.54 percent.
Corn inventory in commercial warehouses reached 285,090 MT, 152,100 MT in households, while corn in NFA warehouses reached only 2,380 MT.
“Corn stocks in all sectors grew compared with their levels the previous year. Stocks in the households increased by 90.88 percent, in commercial warehouses by 23.13 percent and in NFA depositories by 428.67 percent,” the PSA said.
“Compared with the previous month, corn stocks in commercial warehouses and in NFA depositories increased by 38.54 percent and 84.56 percent, respectively. Stocks in the households dropped by 13.12 percent,” the