Rice inventory up 5.3% in February

THE national rice inventory rose 5.3% year on year to 2.11 million metric tons (MT) as of Feb. 1, the Philippine Statistics Authority (PSA) said, citing preliminary data.

Of the total, 42.6% was held by households, 37.5% by the commercial sector, and 20% by the National Food Authority (NFA).

Rice held by the NFA almost doubled year on year to 421.51 thousand MT, though it declined 3.9% from a month earlier.

Rice held by commercial establishments stood at 791.20 thousand MT, down 14.2% from a year earlier and 7.9% month on month.

Rice held by households was 421.51 thousand MT, up 13.2% from a year earlier and down 13.8% month on month.

The PSA added that corn stocks rose to 573.04 thousand MT as of Feb. 1., rising  27% year on year and 10.8% month on month.

Corn held by the commercial sector accounted for 87% of the total inventory, while households held 13%. — Pierce Oel A. Montalvo