We have enough rice, corn for 53 days – BAS

MANILA, Philippines - The country’s rice and corn stock inventory remains sufficient for 53 days as of March, the Bureau of Agricultural Statistics (BAS) reported yesterday.

In its latest Rice and Corn Stocks Inventory, BAS reported that stocks held in households would be sufficient for 28 days and those in commercial warehouses would suffice for 11 days, while stocks held in depositories of the National Food Authority (NFA) would be sufficient for 14 days.

As of March 1, the country’s total rice stock inventory was placed at 1.78 million metric tons (MT), lower by 10.9 percent from the previous month’s inventory of two million MT and lower by 7.9 percent than the inventory of 1.94 million MT in March 2013.

Of the present stock level, 53.1 percent were held in households, 21.1 percent were in commercial warehouses, and 25.8 percent were held in NFA depositories.

Month-on-month, stocks in NFA depositories rose by 0.2 percent while stocks held in households and commercial warehouses fell by 11.4 percent and 20.6 percent respectively.

Year-on-year, stocks held in households rose by 11.9 percent, while stocks in commercial warehouses and NFA depositories fell by 26.4 percent and 20.5 percent respectively.

The NFA is set to award this month the supply of 800,000 MT of rice for buffer stocking during the lean months of July to September.

The country’s corn stock inventory as of March, meanwhile, was up month-on-month and year on year.

Corn stock inventory as of March 1 was placed at 267,800 MT, up 24 percent from the previous month’s inventory of 215, 900 MT and up 42.3 percent from the inventory of 188, 200 MT in the same period last year.

Of the March stockpile, 49.1 percent were with commercial warehouses, 47 percent were with households and 3.9 percent were with NFA depositories.

Month-on-month, corn stock levels in commercial warehouses and in NFA depositories rose 76.6 percent and 0.1 percent respectively. Corn stocks in households fell four percent.

Year-on-year, corn stocks held in households rose 22.2 percent, corn stocks in commercial warehouses rose 54.7 percent. Stocks in NFA depositories grew from 190 MT in 2013 to 10, 400 MT this year.