RICE STOCKS UP, CORN DOWN IN JAN

THE country’s rice stocks inventory increased of the year compared to their year-ago levels. In its monthly “Rice and Corn Stocks Inventory” report, the Philippine Statistics Authority (PSA) said total rice stocks inventory in January 1, 2019 rose by 11.40 percent to 2.55 million metric tons (MMT) from 2.29 MMT in the same period last year. However, it fell 6.23 percent from 2.72 MMT in the previous month.

Rice stocks in commercial warehouses climbed by 40.59 percent to 1.21 MMT from 1.08 MMT a year ago. But stocks in households and National Food Authority (NFA) depositories fell by 5.88 percent to 1.25 MMT and 8.37 percent to 97,910 MT, respectively.

Compared to previous month, stock level in households and NFA depositories likewise fell by 18.40 percent and 4.14 percent, respectively, while stocks in commercial warehouses rose by 10.65 percent. Of the total inventory, 48.91 percent was held by households, while 47.25 percent was found at commercial warehouses. The remaining 3.84 percent were held by the NFA.

Meanwhile, the country’s corn stocks declined by 28.95 percent to 676,130 MT in January from 951,600 MT in the same month in 2018. However, it was up by 7.34 percent from 629, 910 MT the previous month. Inventory in households rose by 54.17 percent while stocks in commercial warehouses dropped by 36.03 percent yoy. There were no corn stock in NFA depositories during the period. Of the total, 82.90 percent was in commercial warehouses while 17.10 percent in households.

In a separate report, the PSA said farmgate price of palay (unhusked rice) continued to decline to P19.73 per kilo in the fourth week of January, down by 0.30 percent from previous week’s P19.79 per kilo.

The average wholesale price of well-milled rice fell by 0.17 percent to P41.50 per kilo from previous week’s 41.57 per kilo. Likewise, it dropped by 1.05 percent yoy. Similarly, its average retail price fell by 0.27 percent to P45 per kilo. It went down by nearly one percent year-on-year (y-o-y).

Likewise, the wholesale trade average price of regular milled rice declined by 0.21 percent to P38.25 per kilo from previous week’s P38.33 per kilo. It was also down by 5.08 percent y-o-y. At the retail trade, it dropped by 0.60 percent to P41.16 per kilo from its week ago level. It likewise fell by 1.58 percent y-o-y.

Meanwhile, the average farm gate prices of yellow corn grain went down by 0.57 percent to P13.90 and fell by 1.35 percent y- o- y. The equivalent price for white corn grain remained at P13.98 per kilo during the week but fell 2.24 percent y-o-y.

The wholesale price of yellow corn grain slightly increased to P20.31 per kilo from its week-ago level but fell by nearly one percent y-o-y. Its retail price went up by 0.28 percent to P25.18 per kilo week- on- week but fell by 3.19 percent y-o-y.

For white corn grain, the average price at wholesale trade remained at P20.80 per kilo during the week but fell by 2.12 percent y-o-y. At the retail level, its price likewise remained at P28.12 per kilo but also fell by 0.50 percent y-o-y.