THE RICE inventory as of Aug. 1 fell 11.6% year on year to 1.58 million metric tons (MT), the Philippine Statistics Authority (PSA) said. 

According to its rice and corn stocks report, the PSA said the rice inventory as of Aug. 1 is also down 27.5% from the previous month.

Rice held by households fell 11.9% year on year to 751,070 MT while commercial warehouse holdings fell 11.2% year on year to 648,400 MT.

National Food Authority (NFA) stocks fell 12.3% year on year to 178,840 MT.

Month on month, the PSA said rice held by households, commercial warehouses, and the NFA fell 23.8%, 34.3%, and 13.1%, respectively.  

The PSA said the corn inventory as of Aug. 1 declined 3.4% year on year to 707,650 MT. The month-on-month decline was 23.4%.  

Corn held by households rose 12% year on year to 108,130 MT while inventory in commercial warehouses fell 5.7% to 599,530 MT.  

Month on month, the PSA said corn held by households rose 9.8% while stocks in commercial warehouses fell 27.4%. — Revin Mikhael D. Ochave