January rice stocks good for 74 days

MANILA, Philippines - The country’s total rice stock inventory as of January fell month-on-month and year-on-year with stocks sufficient for 74 days, according to the Bureau of Agricultural Statistics (BAS).

The total rice stock inventory as of January 1 was placed at 2.52 million metric tons, 3.4 percent lower than the previous month’s inventory of 2.61 million metric tons and 3.9 percent lower than last year’s record of 2.62 million metric tons.

Of this month’s stock inventory, 51.9 percent were held in households, 24.6 percent were with the commercial warehouses and 23.5 percent were with the NFA depositories.

Month-on-month, stock levels in all sectors were lower. Stocks in the households fell by one percent. Those in the commercial warehouses went down by 10 percent. Stocks in NFA depositories, of which 31 percent were imported rice, dropped by 1.1 percent

Year-on-year, stocks in the households increased 33.3 percent and those in commercial warehouses 2.9 percent. In NFA depositories, stocks declined 43 percent.

The total rice stock inventory would be sufficient for 74 days. Household stocks would last for 39 days. Stocks in commercial warehouses would last for 18 days while those in NFA depositories would be enough for 17 days.

Corn stocks also fell month-on-month and year-on-year.

The Jan. 1 corn stock inventory was estimated at 161.3 thousand metric tons, 21.2 percent lower than the previous month’s level of 204.7 thousand metric tons and 2.9 percent less than last year’s record of 166.1 thousand metric tons.

About 30 percent of the stocks were held in households and 61.9 percent were with commercial warehouses. The NFA depositories accounted for the balance.

Month-on-month, corn stocks held in households dropped by 6.6 percent. Those in the commercial warehouses and NFA depositories decreased by 28.1 percent and 40.8 percent, respectively.