Rice stocks up, corn down in September

The Philippines saw higher rice inventory but registered lower corn stocks as of September, the Philippine Statistics Authority (PSA) said.

In its latest rice and corn stocks inventory report, the PSA said total rice stocks inventory stood at 1.451 million metric tons (MT) as of September 1, up 8.9 percent from the 1.332 million MT registered in the same period a year ago.

Rice stocks in National Food Authority (NFA) depositories declined by 25.7 percent from last year’s level.

In contrast, rice stocks in the household sector grew by 11.3 percent while those in commercial warehouses/wholesalers/retailers increased by 15.7 percent.

Households accounted for 49 percent of the inventory at 710,340 MT, followed by commercial warehouses with a 43.3 percent share at 628,160 MT. Supplies from the NFA depositories cornered a 7.7 percent share at 112,380 MT.

On a month-on-month basis, the rice inventory level fell by 10.1 percent from 1.631 million MT in August.

The PSA said rice stocks inventory in all sectors recorded a decrease.

Rice stocks in households were down by 10.3 percent, stocks in commercial warehouses declined by 8.6 percent, and stocks in NFA depositories fell by 16.5 percent.

Meanwhile, the country’s corn stocks inventory inched up by 0.2 percent to 561,700 MT as of Sept. 1.

Corn stocks inventory in commercial warehouses/wholesalers/retailers rose by 24.8 percent while stocks in households plunged by 48.9 percent.

Over the last month, corn inventory also fell by 17.3 percent from 679,130 MT.

Compared to the previous month, corn stocks in commercial warehouses contracted by 21.5 percent while stocks in households rose 12.1 percent.

Corn stocks in commercial warehouses accounted for 83 percent of the total inventory, while households accounted for 17 percent.