Rice stocks good for 64 days – BAS

MANILA, Philippines - The country’s rice stock inventory rose in April because of the ongoing harvest season, remaining sufficient for 64 days, the Bureau of Agricultural Statistics (BAS) reported yesterday.

BAS said stocks held in households would be sufficient for 35 days while those in the depositories of the National Food Authority (NFA) and in commercial warehouses would be enough for 15 and 14 days respectively.

As of April, the country’s total rice stock inventory was placed at 2.18 million metric tons (MT), up 22 percent compared to the previous month’s inventory of 1.78 million MT. This was lower, however, by 6.2 percent compared to the inventory of 2.32 million MT in the same period last year.

Of the current stock level, 54.4 percent are held in households, 23.8 percent were in NFA depositories, and 21.8 percent are in commercial warehouses.

Rice stock levels this month are up in all sectors compared with last month. Stocks held in households and in commercial warehouses rose by 25.3 percent and 26.3 percent, respectively.

Rice stocks in NFA depositories, 85.5 percent of which are imported rice, rose 12.8 percent month-on-month.

Compared with last year, stocks held in households rose 11 percent. Stocks in commercial warehouses and in NFA depositories fell 29.4 percent and 11.2 percent, respectively.

Corn stock inventory as of April, meanwhile, rose 37.7 percent from the previous month to 368,700 MT and by 23.3 percent year-on-year.

Around 52.8 percent of the April corn stock inventory were held in commercial warehouses, while 44.4 percent and 2.8 percent were held in households and NFA depositories, respectively.

Month-on-month, corn stocks in households and commercial warehouses rose by 30 percent and 48 percent, respectively. Corn stocks in NFA depositories rose by 1.2 percent.

Year-on-year, corn stocks held in households and commercial warehouses rise by 36.5 percent at 8.9 percent respectively. Stocks in NFA depositories rose from 400 MT to 10,200 MT.