PHL rice inventory up 8.9% as of September 1–PSA

The country’s rice stocks as of September 1 reached 1.45 million metric tonnes (MMT), 8.9 percent higher than last year’s 1.332 MMT, according to the latest government data.

However, rice stocks were 10.1% lower than the 1,613 MMT recorded in August, according to the Philippine Statistics Authority (PSA) monthly rice and maize inventory report.

September is the last month of the country’s so-called lean season, when domestic rice production is generally minimal.

Despite growing at an almost double-digit annual growth rate, the country’s total rice stocks as of September 1 were the lowest in 12 months or since the 1,332 MMT recorded a year ago, according to historical data from PSA. .

Household rice stocks reached 710,340 metric tons (MT) while those of commercial entities were estimated at 628,160 MT. NFA warehouses had 112,380 tons of rice during the reporting period.

PSA said rice stocks in households and commercial entities (warehouses/wholesalers/retailers) increased on an annual basis while stocks in NFA warehouses decreased.

“Compared to the previous year’s records, the inventory of rice stocks in households and commercial/wholesaler/retail warehouses increased by 11.3% and 15.7%, respectively. However, the inventory level in NFA depositories contracted by -25.7%,” he said.

“Rice stocks across all sectors were down from previous month levels. Inventories in households fell by -10.3%, in commercial/wholesaler/retail warehouses by -8.6% and in NFA depositories by -16.5%.

In the same report, the PSA said the country’s maize stocks as of September 1 increased to 561,700 MT from 560,610 MT in the same period a year ago.

“On the other hand, the total inventory of corn stocks in September 2022 decreased by -17.3%, compared to the previous month’s level of 679.13 thousand metric tons.”

The PSA reported that 83% of the total maize stock inventory during the reporting period came from commercial/wholesaler/retail warehouses, while the remaining 17% volume came from households.

The total maize stock stored in commercial entities reached 465,950 MT while that of households was estimated at 95,750 MT.

“Compared to September 2021 stock levels, corn stocks in commercial/wholesaler/retail warehouses as of September 1, 2022 showed a 24.8% increase. However, the level of household inventories fell by -48.9%,” the PSA said.

“Corn inventory levels fell -21.5% from the previous month’s record at commercial/wholesaler/retail warehouses, while household inventory levels increased by 12.1%.