THE rice buffer stock held in government warehouses has been projected at the equivalent of 94 days’ consumption by the end of the year, Agriculture Secretary William D. Dar said.
“We would like to inform the public that based on our estimates, the country will enjoy an ending rice inventory of 3.27 million metric tons (MT) by Dec. 31. That means we will have rice to feed the entire country for 94 more days or three months, up to March 2021,” Mr. Dar said in a statement.
The Department of Agriculture said the overall rice supply by the end of the year, including those held by households and commercial traders, is projected at 17.99 million MT, 18% higher than overall rice demand of about 14.67 million MT.
“Let us not create unnecessary panic over our food supply… We remain forward-looking in squarely addressing concerns that threaten our food security,” Mr. Dar said. — Revin Mikhael D. Ochave