Rice stocks good for 15 days

MANILA, Philippines - The country’s rice stock inventory is sufficient for 65 days as of July, according to the Bureau of Agricultural Statistics (BAS).

Stocks in depositories of the National Food Authority  (NFA) could last for 21 days while stocks in commercial warehouses could last for 20 days. Household stocks could last for 24 days.

In its July rice and corn stocks inventory issued late Thursday, BAS said the country’s rice stock inventory as of July 1 was placed at 2.19 million metric tons (MT), higher by 14.6 percent from the stockpile of 1.92 million MT in the same period last year.

The July inventory, however, is 5.2 percent lower than the previous month’s record of 2.31 million MT.

Month-on-month, rice stocks in households decreased 15.3 percent and those in commercial warehouses by 4.4 percent.

Stocks in NFA depositories, of which 34 percent were imported rice, grew 9.2 percent.

Compared with last year’s inventory, stock levels in all sectors were higher.

Household stocks grew 6.4 percent, those in commercial warehouses rose 21.87 percent and in NFA stocks rose 18.1 percent.

Of the total rice stocks in July, households accounted for 37 percent, NFA depositories shared 32 percent, while 31 percent are held in commercial warehouses.

The country is still in the middle of the lean season for palay cropping.

Corn stock inventory in July, on the other hand, was placed at 123, 200 MT, down 11.7 percent than last month’s record of 139,500 MT and 11.6 percent below last year’s level of 13, 400 MT.

Compared with last month’s levels, stocks in the households and in NFA depositories grew 4.7 percent and 6.7 percent, respectively. On the other hand, stocks in commercial warehouses dropped 19.2 percent.

Year-on-year, stock inventory in July decreased 22 percent in the households and 8.5 percent in commercial warehouses.

Stocks in NFA depositories, however, grew from 160 MT to 3,200 MT.

Of the current stock level, about 34.5 percent were held in households and 62.9 percent were in commercial warehouses. NFA depositories held about 2.6 percent.