DA: PHL has 3.9-MT rice reserves good for 91 days

 

 

GMANewsThe Philippines’ rice reserves expanded by 8.9 percent to 3.09 million metric tons (MT) in June, giving Filipinos a 91-day buffer stock based on an average daily consumption of 31,000 MT, the Agriculture Department said on Wednesday.

The department’s Bureau of Agricultural Statistics (BAS) reported that 47 percent or 1.44 million MT of the stockpile is in National Food Authority (NFA) warehouses. Sixty-nine percent of the NFA stockpile consists of imported rice.
The NFA is required to maintain a 30-day minimum inventory of 930,000 MT, the BAS said.

Government’s rice inventory is good for about 46 days. The NFA reserves are 25.1 percent lower than its stockpile last year.
In contrast, rice stocks in warehouses of private traders rose by 60.5 percent to 740,000 MT.

BAS analysts estimate that households have 910,000 MT of rice stashed away.

Meanwhile, the total inventory of corn as of June 1 was 2.34 million MT, up 3.9 percent to 2.06 million MT in May.

Most of the country’s corn supplies — 79.6 percent — are in warehouses of private merchants, according to the BAS, saying that merchants went on an aggressive buying campaign that increased their stockpile by 133.5 percent to 1.8 million MT as of June 1.

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