July rice inventory remains sufficient

MANILA, Philippines - Domestic rice stock inventory remains sufficient for 76 days, the Philippine Statistics Authority (PSA) said.

Stocks held in households would be sufficient for 28 days, those held in commercial warehouses for 25 days while those held in NFA depositories would be sufficient for 23 days.

Around 37.1 percent of total rice stock inventory was held in households, 32.7 percent in commercial warehouses and 30.2 percent in NFA depositories.

The country’s total rice stock inventory as of July was 2.57 million metric tons (MT). This was 26.8 percent higher than the stockpile of 2.03 million MT in July 2014 but 14.9 percent lower than last month’s inventory of 3.02 million MT.

Year-on-year, rice stocks were higher in all sectors. Stock levels in households increased by 8.3 percent, commercial warehouses by 22 percent and in NFA depositories by 69.8 percent.

Corn stock inventory, meanwhile, stood at 275, 400 MT as of July, up by 70.3 percent year-on-year and 32 percent higher month-on-month.

Of July’s total corn stock inventory, 80 percent were in commercial warehouses, 18.8 percent were with households, and 0.4 percent were in NFA depositories.

Year-on-year, corn stocks in commercial warehouses surged by 118.2 percent while stocks in households and in NFA depositories fell by 3.8 percent and 83.2 percent respectively.