Rice stocks good for 78 days

MANILA, Philippines - Domestic rice stock inventory as of January remains sufficient for 78 days, according to the Philippine Statistics Authority (PSA).

Around 49.8 percent of this month’s total rice stock inventory were with households, 30.5 percent were in commercial warehouses and 19.7 percent were in depositories of the National Food Authority (NFA).

Stocks held in households would be sufficient for 39 days, those held in commercial warehouses would be enough for 24 days, while those held in NFA depositories would be sufficient for 15 days.

As of Jan. 1, the country’s total rice stock inventory was placed at 2.66 million metric tons (MT), up 25.2 percent from 2.13 million  MT in the same period in 2014. Month-on-month, however, domestic stocks fell 12.2 percent.

Month-on-month stocks held in NFA depositories , 96.7 percent of which are imported rice, rose 7.8 percent. Stocks held in households and in commercial warehouses, however, fell 15.4- and 17-percent, respectively.

Year-on-year, rice stock levels in all sectors were higher. Stocks held in households and in commercial warehouses rose 4.6- and 39.3-percent. Stocks in NFA depositories rose 90.7 percent.

The NFA currently imports most of the country’s rice requirement for buffer stocking.  For this year, the state grains procurement agency may import between 500,000 MT to 600,000 MT of rice.

Food Security chief Francis Pangilinan said the NFA Council may arrive at a decision on the volume and mode of importation when it convenes on Friday.

For corn, stock inventory was pegged at 184,000 MT as of January 2015, higher by nine percent higher than the inventory 168,800 MT a year ago.

Around 52.9 percent of this month’s total corn stock inventory were with the commercial warehouses, 46.2 percent were with the households and 0.9 percent were with the NFA depositories.