Rice inventory up 3.5% in August

THE rice inventory in August rose 3.5% to 1,633.36 thousand metric tons (MT), the Philippine Statistics Authority said.

On a month-on-month basis, inventory declined 19.7% from July.

Rice held by households rose 5.4% year on year, while that held by commercial warehouses, wholesalers, and retailers rose 9.1%. On the other hand, stocks held by the National Food Authority (NFA) fell 24.7%.

Households accounted for about 48.5% of the month’s rice inventory, followed by commercial warehouses, wholesalers and retailers with 43.3% and the NFA 8.2%.

Meanwhile, corn inventory was estimated at 704.46 thousand MT, down 0.4% year on year.

Compared to the July inventory, corn stocks dropped 5.7%.

Inventory levels in commercial warehouses, wholesalers, and retailers grew 3.3% while households stocks fell 20.5%.

Some 87.9% of the corn inventory was held by commercial warehouses, wholesalers, and retailers, with the remainder in households. — Luisa Maria Jacinta C. Jocson