PH rice, corn stocks declined in January

The Philippines’ rice inventory fell by 3.9 percent in January from the same period last year, government records show.

The country now has a stock of rice enough to last 74 days.

The Bureau of Agricultural Statistics, an attached agency of the Department of Agriculture, said in a report late Monday that the rice stock as of Jan. 1 this year reached 2.52 million metric tons (MT)—lower than last year’s record of 2.62 million MT.

Compared to the previous month’s 2.61 million MT, the stock in January was also lower by 3.4 percent.

“Total rice stock would be enough for 74 days,” the BAS said, noting that this month’s stock levels in households and commercial warehouses were lower than last month by 1 percent and 10 percent, respectively.

Household stocks may last for 39 days while stock in commercial warehouses may be sufficient for 18 days.

Those in the care of the National Food Authority—31 percent of which had been imported—may be enough for 17 days.

Compared to last year’s inventory, the stock in households increased by 33.3 percent, while those in commercial warehouses were up by 2.9 percent.

Those held in government-run facilities declined by 43 percent.

Asked why the government stocks had gone down, Rex Estoperez, NFA information chief, said that the agency has yet to start its regular procurement from local rice farmers in March and April.

“We have been getting rid of our aging stocks. That is why the level was lower,” Estoperez said over the telephone.

Also as of Jan. 1, 2003, the country’s total corn stock stood at 161,300 MT—down by 2.9 percent from last year’s 166,100 MT, and 21.2 percent lower than the previous month’s 204, 700 MT.