MANILA, Philippines–The nation’s stock of milled rice in September fell for the fourth month in a row to 1.49 million tons, according to the Philippine Statistics Authority (PSA).
The supply may only be worth 44 days of consumption, the agency said. Overall inventory as of Sept. 1 was seven days less than the 1.72 million tons recorded in the beginning of July.
The supply dwindled from the post-harvest stock of 74 days’ worth of grains last May 1 as the domestic rice market went through the lean months, with the new crop awaiting harvest.
In September, the National Food Authority (NFA) was still waiting for the final batch of rice shipments from Vietnam.
Under the most recent importation deal sealed by the NFA last April, 200,000 tons were supposed to arrive last month.
Assistant Secretary Edilberto de Luna at the time said the lean rice season could extend to October.
De Luna said many rice farmers delayed planting for the wet season, particularly in areas that rely on rain for irrigation, due to the late onset of showers this year.
Based on the government’s measure of rice supply, the buffer stock must exceed the expected demand by covering 90 days’ worth of consumption.
The latest data from the PSA showed that the NFA’s inventory went up by 10,000 tons to 450,000 tons, 97 percent of which had been imported.
The NFA’s stock remained at 13 days’ worth of consumption—still short of the agency’s mandate of keeping at least 15 days’ worth of supply.
Also, stocks held by households and commercial warehouses shrank by 100,000 tons and 140,000 tons, respectively.
Households reportedly kept a total of 600,000 tons, good for 18 days, while commercial warehouses held 440,000 tons, enough for 13 days.
The NFA is currently in the process of securing additional supplies through a government-to-government process following a call for tenders for 500,000 tons last month.
The NFA sells well-milled rice for P32 a kilo, and regular-milled rice for P27 a kilo.