THE RICE inventory fell 7.5% year on year to 2.58 million metric tons (MT) as measured on May 1, according to the Philippine Statistics Authority (PSA).

The PSA said in a report that rice stocks held by households fell 6.2% to 1.43 million MT. Inventories held by commercial warehouses fell 4% to 918,670 MT. 

Rice held by the National Food Authority (NFA) fell 24.2% to 241,130 MT.

“Of this month’s total inventory, 55.1% were in households, 35.5% in commercial warehouses/wholesalers/retailers, and 9.3% in NFA depositories,” the PSA said.

Month on month, PSA said rice stocks rose 5.8% from the 2.44 million recorded as of April 1. 

Household rice stocks fell 2.7% compared to April 1 levels, while inventories in commercial warehouses rose 24.5%.

NFA rice holdings fell 0.02% from the 241,170 MT posted on April 1.

Meanwhile, the PSA said the corn inventory as of May 1 fell 1.6% year on year to 826,730 MT.

Household corn stocks rose 81.3% to 285,020 MT. Inventories held by commercial warehouses fell 20.7% to 541,710 MT.

The NFA held no corn stocks during the period.

The PSA said the corn inventory rose 15.8% from 713,680 MT recorded a month earlier. 

Household corn stocks rose 10.4% compared with April 1 levels, while inventory in commercial warehouses rose 18.9%.  

“Of this month’s total corn stocks, 34.5% was held by households and 65.5% by commercial warehouses/wholesalers/retailers,” the PSA said. — Revin Mikhael D. Ochave