National Food Authority: Rice buffer stock to last 2 days
The PSA reported the total rice inventory as of end-February was lower than the 2.3 million MT recorded in 2017 and was 22 percent lower than the 2.29 million MT recorded last January. Philstar.com/File Photo
MANILA, Philippines — The National Food Authority (NFA) has depositories for less than two days, when it is supposed to maintain a 15-day buffer stock.
Moreover, the country’s rice inventory remains low this year as it went down by 22 percent to 1.8 million metric tons (MT) last month, according to the latest data from the Philippine Statistics Authority (PSA).
The PSA reported the total rice inventory as of end-February was lower than the 2.3 million MT recorded in 2017 and was 22 percent lower than the 2.29 million MT recorded last January.
Stock inventory of the main staple will be sufficient for 53 days, the PSA said.
This is also the reason why the state-run grain agency has been pushing for the importation of 250,000-metric-tons of rice, which finally got a green light from the interagency NFA Council.
The imported rice, however, is expected to arrive only by June or July.
Households had more than half of total inventories at 61 percent, while commercial warehouses held about 36 percent. Supplies from NFA depositories cornered three percent of the total.
On a monthly basis, decline was seen in all sectors with an 18 percent decrease in households, 25 percent in commercial warehouses, and 43 percent in NFA depositories.
Meanwhile, corn stock inventory stood at 410,330 MT as of end-February, seven percent lower than its 2017 level.
Of the total, 82 percent was in commercial warehouses, 18 percent in households, and less than one percent in NFA depositories.
Month-on-month, decline was also seen in all sectors as corn stocks in commercial warehouses dropped 62 percent, while inventory in households and NFA depositories decreased one percent and nine percent, respectively.
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