By Mary Grace Padin
The total rice inventory as of February 1, pegged at 2.94 million metric tons (MMT), is good for 87 days, according to the latest report published by the Philippine Statistics Authority (PSA).
In its monthly report, titled Rice and Corn Stocks Inventory, the PSA said the inventory in February was 25.2 percent higher than the 2.35 MMT recorded in the same period last year.
“But [the figure] is 8 percent lower than the January inventory level of 3.2 MMT,” the report read.
Of the 2.94 MMT rice inventory, households accounted for the bulk at 1 MMT. On an annual basis, this level is 4.3 percent lower than the 1.04 MMT posted in February 2015.
Stocks held by the National Food Authority (NFA) in February reached 995,800 metric tons (MT), 87.6 percent higher than the 530,900 MT recorded a year ago. Imported rice comprised nearly 85 percent of the food agency’s stocks.
Rice in commercial warehouses amounted to 942,400 MT, 22.4 percent higher than the 769,900 MT posted in February 2015.
“Stocks in the households would be sufficient for 30 days, those in NFA depositories for 29 days, and those in commercial warehouses for 28 days,” the report read.
PSA data also showed that the total corn inventory as of February 1 reached 311,700 MT. This was 23.3 percent higher than last year’s record of 252,800 MT, but 19.5 percent lower than last month’s level of 386,900 MT.
“Compared with last year, corn stocks in commercial warehouses increased by 38.1 percent. However, stocks in the households and in NFA depositories decreased by 4.7 percent and 69.6 percent, respectively,” the report read.
The PSA said around 73.4 percent of total corn stock inventory were in commercial warehouses, 25.6 percent were with households and 0.1 percent in NFA depositories.