Rice stocks down 25 percent in December – PSA

MANILA, Philippines — The country’s rice inventory posted a 25.2 percent decline in December, according to data from the Philippine Statistics Authority (PSA).

In its latest rice and corn stocks inventory report, the PSA said total rice stocks stood at 1.896 million metric tons as of Dec. 1, lower than the 2.53 million MT registered in the same month a year ago.

The current inventory is also a 4.2 percent decline from the 1.979 million MT registered the previous month.

Households accounted for the bulk of the inventory or 52.1 percent at 986,780 MT. This was followed by commercial warehouses with a 44.9 percent share at 851,880 MT.

Supplies from the National Food Authority (NFA) depositories cornered a 3.0 percent share at 57,130 MT.

Compared to the previous year’s level, rice stocks in households declined by 33.2 percent.

Rice stocks in commercial warehouses also declined by 8.7 percent.

Stocks in NFA depositories also decreased by 54.4 percent.

On a monthly basis, rice stocks in households declined by 3.0 percent.

Stocks in NFA depositories also declined by 5.5 percent, while stocks in commercial warehouses posted a 5.1 percent month-on-month decrease.

Meanwhile, the PSA also reported that the country’s corn stocks inventory increased by 51.1 percent to 685,890 MT from 454,030 MT as of Dec. 1.

On a monthly basis, corn inventory posted a 12 percent decline from the 779,460 MT in the previous month.

Corn stocks in commercial warehouses accounted for the bulk of the inventory or 82.8 percent at 568,010 MT.

Households accounted for 17.2 percent of the total inventory at 117,880 MT.

Compared to the previous year’s level, corn stocks in commercial warehouses increased by 51.4 percent, while stocks in households increased by 49.4 percent.

On a monthly basis, corn stocks in commercial warehouses declined by 17.4 percent while stocks in households increased by 28.4 percent.

Farmers’ group Samahang Industriya ng Agrikultura president Rosendo So yesterday said the retail price of rice is expected to go down to P45 per kilo during the next harvest season in March 2024, but the price spike of the staple will persist.

Based on monitoring of the Department of Agriculture