THE national rice inventory rose to 2.46 million metric tons (MMT) in November, up 24.4% year on year, according to preliminary data from the Philippine Statistics Authority (PSA).
Rice stocks consisted of 57.6% held by commercial traders, 36.6% by households, and 5.8% by the National Food Authority (NFA).
NFA and commercial warehouses grew their holdings, while household rice stocks fell during the month.
Rice held by commercial establishments in November amounted to 1.42 MMT, up 57.4%.
NFA reserves more than doubled to 141,680 MT from 60,230 MT a year earlier.
Rice held by households declined 11.4% year on year to 901,210 MT.
Month on month, rice stocks rose 7.9% from October.
“Increments were noted from the commercial sector by 17.2% and in the households by 0.3%. Meanwhile, rice stocks held by NFA depositories decreased 17.9%,” it added.
The Department of Agriculture has said it is targeting a year-end national rice inventory of 3.83 MMT, despite the projected drop in rice production. This is equivalent to about 100 days’ demand.
The PSA reported that corn stocks fell 20.6% year on year to 619,160 MT.
Corn held by commercial establishments accounted for 87.3% of the total, while households held the rest.
“Corn stocks recorded annual decreases of 21.3% in the commercial sector and 14.7% in households. — Adrian H. Alternate
