PHL rice stocks down 13.5%–report

The country’s rice inventory at the start of 2017 declined by 13.5 percent to 2.77 million metric tons (MMT), from 3.2 MMT recorded a year ago, according to a report from the Philippine Statistics Authority (PSA).
The rice inventory as of January 1, however, was enough for the country’s rice requirement for 81 days, the PSA said in its monthly report, titled “Rice and Corn Stock Inventory”.
“Stocks in the households would be adequate for 37 days, those in commercial warehouses for 28 days, and those in NFA depositories for 16 days,” the PSA said in the report.
The January 1 rice-stock inventory was also 17.19 percent lower than the December’s inventory of 3.34 MMT.
“This month’s rice stocks in all sectors declined compared with their levels the previous year. Stocks in the households decreased by 4.75 percent, in commercial warehouses by 1.79 percent, and in NFA depositories by 39.2 percent,” the report read.
Of the January’s total rice-stock inventory, 45.91 percent were with households, 34.29 percent were in commercial warehouses, while 19.8 percent were in NFA depositories, the PSA said.
The rice stock in NFA depositories reached 547,460 MT, of which nearly 80 percent, or 435,340 MT, was imported.
Meanwhile, rice stocks in households and commercial warehouses reached 1.269 MMT and 948,050 MT, respectively.
“Compared with their levels the previous month, stocks in all sectors dropped. Stocks in the households decreased by 24.34 percent, in commercial warehouses by 13.55 percent, and in NFA depositories by 2.96 percent,” the report read.
The government periodically monitors the country’s rice stocks to determine whether there is a need to import the staple.
In the same report, the PSA said the country’s corn inventory as of January 1 reached 382,130 MT, slightly lower than the 386,960 MT recorded in 2016.
However, the figure was 3.28 percent higher than the 369,980 MT corn-inventory level recorded in December last year.
“Compared with the previous year, corn stocks in the households increased by 68.64 percent,” the report read.
“Stocks in commercial warehouses and NFA depositories decreased by 26.96 percent and 9.03 percent, respectively,” it added.
The PSA said more than half the total corn-stock inventory as of January 1 were in commercial warehouses, 45.81 percent were with the households and 0.34 percent in NFA depositories.
Corn stocks in commercial warehouses reached 205,780 MT, while those in households and NFA warehouses reached 175,060 MT and 1,290 MT, respectively.
“Month-on-month, corn stocks in the households and in NFA depositories grew by 16.3 percent and 24.78 percent, respectively. However, stocks in commercial warehouses dropped by 5.79 percent,” it added.

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