November rice stock rises by 6.6%

PHILIPPINE STAR/MICHAEL VARCAS

THE rice inventory rose 6.6% year on year to 3.16 million metric tons (MT) in November, according to the Philippine Statistics Authority (PSA).

In its rice and corn inventory report, the PSA said stocks held by households rose 18.5% year on year to 1.81 million MT, while inventory held by commercial warehouses fell 1.9% year on year to 963.52 thousand MT.

Rice deposited with the National Food Authority (NFA) fell 15.1% year on year to 385.62 thousand MT.

Compared to October, the rice inventory rose 19.3%, with household stocks up 24.8%, while rice held by commercial warehouses rose 0.6%. NFA rice holdings in November rose 60.8% from a month earlier.

“About 57.3% of the total rice inventory was with households, 30.5% with commercial warehouses, and 12.2% with NFA depositories,” the PSA said.

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Meanwhile, the corn inventory fell 14.7% year on year in November to 1.02 million MT.

Stocks held by households rose 55.7% year on year to 346.43 thousand MT while inventory in commercial warehouses fell 30.8% to 675.52 thousand MT.

The NFA held no corn during the period.

Month-on-month, corn stocks rose 3.7%.

Household corn stocks fell 17.6% against October while inventory held by commercial warehouses rose 19.5%.

“Of this month’s total corn stocks inventory, 33.9% were from the households and 66.1% were from commercial warehouses,” the PSA said. — Revin Mikhael D. Ochave

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