Rice stocks enough for 59 days

MANILA, Philippines - The country’s total rice stock inventory as of July remains sufficient for 59 days, the Philippine Statistic Authority (PSA) reported.

In its latest Rice and Corn Stock Inventory report, PSA said stocks held in households would be sufficient for 26 days while stocks in commercial warehouses would be enough for 20 days.

Rice stocks held in depositories of the National Food Authority (NFA) would be sufficient for 13 days.

Of the July stock level, 43.4 percent were with households, 34.1 percent were in commercial warehouses, while 22.5 percent of the total rice stock inventory were held in NFA depositories.

The total rice stock inventory as of July was placed at 2.03 million metric tons (MT), 12.2 percent lower than the previous month’s inventory of 2.31 million MT and 7.7 percent lower than the inventory of 2.19 million MT in the same period last year.

Month-on-month, rice stocks in NFA depositories, 94.4 percent of which is imported rice, rose by 12.1 percent. Stock levels in households and commercial warehouses fell by 18.7 percent and 15.7 percent, respectively.

Year-on-year, stocks held in households and in commercial warehouses rose by 8.3 percent and 0.7 percent, respectively. Stocks held in NFA depositories, on the other hand, fell by 34.6 percent.

NFA, the state grains procurement agency, is increasing its buffer stocks through increased importation. The agency is set to hold a tender on Aug. 27 for the importation of 500,000 MT of rice for use during the prevailing lean season for palay (unhusked rice).