PH’s total rice inventory down by 17.2% in Jan

The country’s total rice inventory as of January this year has dwindled compared to year-ago levels, data from the Philippine Statistics Authority (PSA) showed.

Stocks in commercial warehouses, households and National Food Authority (NFA) depositories were at 2.28 million metric tons (MT). This was lower by 17.2 percent than the 2.76 million MT inventory level last year.

Similarly, it declined by 19.64 percent from the 2.8 million MT in December last year.

Household stocks rose by 4.40 percent to 1.32 million MT during the period. However, inventories in commercial warehouses and the NFA both dropped by 9.57 percent and 80.48 percent, respectively, from year-ago levels.

These put household and NFA inventories at 857,000 MT and 106,000 MT, respectively.

More than half of the country’s total rice stocks are held by households, while 37.44 percent are in commercial houses. The NFA, which is currently embattled with importation issues, has about 4.67 percent of the total inventory.

The food security committee, in its meeting today, is expected to come up with a decision on whether the NFA would be allowed to import 250,000 MT of rice to ramp up its stock.

NFA director for operations Rocky Valdez said the agency had yet to receive official documents related to President Duterte’s pronouncement that it could now proceed with the importation.