Rice inventory good for 73 days - BAS

Posted at 01/11/14 10:37 AM

MANILA, Philippines - The country’s rice stock inventory remains sufficient for 73 days as of December, according to the Bureau of Agricultural Statistics (BAS).

In a report released yesterday, BAS said the total rice stock inventory as of Dec. 1, 2013 was 2.49 million metric tons (MT), 2.2 percent higher than the previous month’s inventory of 2.44 million MT but 4.6 percent lower than the inventory of 2.61 million MT in comparable period last year.

Of the current stock level, 57.7 percent were held in households, 30.3 percent were held in commercial warehouses and 12 percent were held in NFA depositories.

Stocks held in households would be sufficient for 42 days, those in commercial warehouses for 22 days, while those in NFA depositories would be sufficient for nine days.

Stocks held in commercial warehouses rose by 18.5 percent in December from the previous month. Stocks held in depositories of the National Food Authority (NFA), 39.7 percent of which were imported, fell by 15.2 percent from the previous month. Stocks held in households decreased by 0.7 percent.

Year-on-year, stocks held in households and in commercial warehouses were higher by 9.8 percent and 9.3 percent respectively. Stock inventory in NFA depositories fell by 50 percent.

Corn stocks in December, meanwhile, rose by 3.4 percent from the previous month to 189, 400 MT. This was lower, however, from the inventory of 204,700 MT from the same period in the previous year.

Around 51.2 percent of the corn stocks in December were held in commercial warehouses while 43.3 percent were held in households. Around 5.5 percent were in NFA depositories.

Corn stocks in households and in commercial warehouses rose by 4.5 percent and 3.1 percent from the previous month. Corn inventories in NFA depositories, however, fell by one percent.

Year-on-year, corn stocks in households grew by 25 percent. Corn stocks in NFA depositories rose to 10,500 MT from 130 MT. Corn stocks in commercial warehouses fell by 30.2 percent.

After the onslaught of Typhoon Yolanda in November, the NFA Council approved the importation of 500,000 MT of rice from Vietnam to augment the country’s buffer stock.

Delivery was set beginning in December until the first quarter of the year.

The NFA Council still rules out the exportation of corn to keep domestic supply stable.