Rice stocks up 2.5% in April

The country’s rice inventory grew 2.5 percent, the Philippine Statistics Authority (PSA) said.

In its latest rice and corn stocks inventory report, the PSA said total rice stocks inventory stood at 2.51 million metric tons (MT) as of April 1, higher than the 2.44 million MT registered in the same period a year ago.

The figure is also 53.5 percent higher than the 1.63 million MT registered the previous month.

Households accounted for the bulk of the inventory or 54.8 percent at 1.37 million MT. This was followed by commercial warehouses, with a 39.8 percent share at 997,420 MT.

Supplies from the National Food Authority (NFA) depositories accounted for a 5.4 percent share at 135,870 MT.

Compared to the previous year’s level, rice stocks in households decreased by 6.3 percent.

Rice stocks in NFA depositories also declined by 43.7 percent.

In contrast, stocks in commercial warehouses increased by 35.1 percent from year ago levels.

On a monthly basis, rice stocks in households jumped by 58.7 percent.

Stocks in commercial warehouses also posted a 63.2 percent month-on-month increase.

In contrast, stocks in NFA depositories dropped by 13 percent.

Meanwhile, the country’s corn stocks inventory increased by 8.9 percent to 777,370 MT as of April 1.

On a monthly basis, corn inventory jumped by 73.4 percent from the previous month’s 448,310 MT.

Corn stocks in commercial warehouses accounted for the bulk of the inventory or 76.9 percent at 597,490 MT.

In contrast, households accounted for 23.1 percent of the total inventory at 179,890 MT.

Compared to the previous year ’s level, corn stocks in commercial warehouses increased by 31.2 percent.

Stocks in households declined by 30.3 percent.

On a monthly basis, corn stocks in commercial warehouses jumped by 81 percent, while stocks in households increased by 52.2 percent.