Philippines: Rice stocks up 3.5% in August

MANILA, Philippines — The country’s rice inventory inched up by 3.5 percent in August, the Philippine Statistics Authority (PSA) said.

In its latest rice and corn stocks inventory report, the PSA said total rice stocks inventory stood at 1.633 million metric tons (MT) as of August 1, higher than the 1.578 million MT registered in the same period a year ago.

On a month-on-month basis, the inventory level is 19.7 percent lower than the 2.034 million MT registered in July.

The PSA said only rice stocks in National Food Authority (NFA) depositories recorded a decrease, declining by 24.7 percent year-on-year.

Rice stocks in the household sector grew by 5.4 percent while those in commercial warehouses/wholesalers/retailers went up by 9.1 percent.

Households accounted for 48.5 percent of the inventory at 791,550 MT, followed by commercial warehouses with a 43.4-percent share at 707,200 MT. Supplies from the NFA depositories cornered an 8.2-percent share at 134,610 MT.

On a monthly basis, the PSA said rice stocks inventory in all sectors recorded a decrease.

Rice stocks in households were down by 25.6 percent. Stocks in commercial warehouses and in NFA depositories also declined by 12.7 percent and 16.1 percent, respectively.

Meanwhile, the country’s corn stocks inventory slipped by 0.4 percent from 707,030 MT last year to 704,460 MT as of August 1.

“Corn stocks inventory level in the households dropped by 20.5 percent from 107,500 MT in August 2021 to 85,410 MT in August 2022. On the other hand, about 3.3 percent annual increase in commercial warehouses/wholesalers/retailers stocks inventory level were recorded during the period,” the PSA said.

Over the last month, corn inventory also fell by 5.7 percent from 707,030 MT.

Compared to the previous month, corn stocks in commercial warehouses contracted by 7.6 percent while stocks in households rose by 11.4 percent.

Corn stocks in commercial warehouses accounted for the bulk of the inventory, or 87.9 percent, while households accounted for 12.1 percent.