Rice stock inventory drops 26.9%

Premier League

THE country’s rice stocks inventory fell by 26.9 percent to 1.332 million metric tons (MT) as of the start of September as compared to 1.823 million MT posted in the same period a year ago, the Philippine Statistics Authority (PSA) said.

Based on its monthly inventory report, the latest figure was likewise 15.6 percent lower than the previous month’s level 1.578 million MT.

The PSA said stocks decrements in rice stocks were noted in all sectors. Stocks in households and commercial warehouses went down by 24.8 percent to 638,160 MT and 30.6 percent to 543,020 MT, respectively. Inventory in NFA depositories also fell by 21.5 percent to 151,170 MT from the previous year’s 192,370 MT.

The month’s rice stocks inventory in all sectors were lower than their respective levels in the previous month. Decreases were recorded at -15.0 percent in households, -16.3 percent in commercial warehouses/wholesalers/retailers, and -15.5 percent in NFA (National Food Authority) depositories.

Compared to their levels in the previous month, rice stocks in households dropped by 15 percent, while a 16.3 percent was noted in commercial warehouses. Meanwhile, stocks in NFA depositories posted a decrement of 15.5 percent.

Of the total rice stocks inventory as of September 1, more nearly half or 47.9 percent were from households, while 40.8 percent from commercial warehouses, and 11.3 percent from NFA depositories.

Meanwhile, PSA said the country’s corn stocks inventory reached 560,610 MT during the reference period, a 29.7-percent drop from 797,370 MT in September 2020. Month-on-month, however, it declined by 20.8 percent from 707,650 MT.

On an annual basis, stocks in households recorded a decrease of 38.6 percent to 187,360 MT while rice stock in commercial warehouses dropped by 24.2 percent to 373,250 MT, respectively.

Meanwhile, there were no corn stocks in NFA depositories for September this year.

Compared with previous month’s level, an increment of 73.3 percent was noted in household warehouses. However, corn stocks in commercial warehouses reduced by 37.3.

Of the total corn stocks inventory as of the start of September, 66.4 percent were from commercial warehouses and the remaining 33.4 percent were from the households, PSA said.