Rice inventory declines 4.5% in early March
THE rice inventory as of March 1 fell 4.5% year on year to 2.08 million metric tons (MT), the Philippine Statistics Authority (PSA) said.
In its rice and corn stocks inventory report, the PSA said rice stocks held by households rose 25.4% year on year to 1.23 million MT, while inventory in commercial warehouses fell 18.3% to 584.66 thousand MT.
Rice stored in National Food Authority (NFA) depositories fell 44.9% to 265.32 thousand MT.
“Of this month’s total rice inventory, 59.1 percent were in households, 28.1 percent were in commercial warehouses, and 12.8 percent were in NFA depositories,” the PSA said in the report.
Compared to the previous month, the PSA said the rice inventory fell 5.2%.
Household rice stocks as of March 1 rose 4.1% from a month earlier.
Rice inventories stored in commercial warehouses fell 17.5% month on month, while NFA holdings fell 12.3%.
Meanwhile, the PSA said the corn inventory as of March 1 fell 20.8% year on year to 628.37 thousand MT.
Household corn fell 0.8% to 201.21 thousand MT, while commercial corn inventory fell 27.7% to 427.16 thousand MT.
NFA held no corn during the period.
Compared to the previous month, the PSA said corn stocks fell 18.9%.
Household corn fell 10.3%, while corn held by commercial warehouses fell 22.4%.
The breakdown for corn was 32% held by households and 68% by commercial warehouses, the PSA said. — Revin Mikhael D. Ochave
