PHL rice stock as of March dips by over one-fifth–psa

THE country’s rice inventory in March plunged by more than a fifth year-on-year to 1.632 million metric tons (MMT), as stocks in households dropped by a doubledigit rate, the Philippine Statistics Authority (PSA) said.

The PSA said the country’s rice stocks as of March 1 was 447,590 MT lower than the 2.080 MMT recorded inventory in the same period of last year.

“In contrast, the rice stocks inventory level increased by 1.4 percent over the previous month’s level of [1.609 million] metric tons,” the PSA said in its latest rice and corn inventory report released recently.

Historical PSA data showed that rice stocks in March halted a

three-month skid in monthly staple inventory nationwide.

The PSA said more than half of the country’s rice inventory as of March 1 were stored in households, while 37.4 percent were held by commercial entities (warehouses, wholesalers and retailers). The PSA added that the remaining 9.6 percent inventory were stored in National Food Authority (NFA) warehouses.

Household rice inventory as of

March 1 reached 864,920 MT while stocks of the staple in commercial entities and NFA warehouses were estimated at 611,330 MT and 156,260 MT, respectively, based on PSA data.

“Year-on-year, rice stocks inventory levels in the households and NFA depositories declined by -29.7 percent and -41.1 percent, respectively. On the other hand, an increase of 4.6 percent was observed in commercial warehouses/ wholesalers/retailers,” the statistical agency said.

“Relative to their levels in the previous month, decrements were noted in the households and NFA depositories by -2 percent and -13.8 percent, respectively. Stocks in commercial warehouses/wholesalers/retailers showed an increase of 12.1 percent,” it added.

In the same report, the PSA said the country’s total corn inventory as of March 1 declined by 28.7 percent to 448,310 MT from 628,370 MT.

“Month-on-month, corn stocks inventory dropped by -5.1 percent from its previous inventory level of [472,570] metric tons,” the PSA added.

The PSA noted that corn inventory in households, which accounted for 26.4 percent of total stocks, and in commercial entities declined on an annual basis.

Corn stocks in households reached 118,170 MT while those in commercial warehouses, wholesalers and retailers were at 330,140 MT, based on PSA data.

“Corn stocks declined by -41.3 percent in the household sector and -22.7 percent in commercial warehouses/wholesalers/retail with reference to the same month of the previous year’s stocks inventory levels,” the PSA said.

“A drawdown of -12.8 percent was recorded in commercial warehouses/wholesalers/retail in comparison with the February 2022 stocks inventory level. On the other hand, a growth of 25.5 percent was noted in the household sector,” the PSA added.