Politics

PHL posts decline in rice, corn inventory at start of June

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THE Philippines’ inventory of rice fell 12.3% year on year to 2,220.21 thousand metric tons (MT) on June, according to the Philippine Statistics Authority (PSA).

“Relative to the May 2022 inventory level of 2,279.96 thousand MT, the current rice stocks inventory dropped by 2.6%,” the PSA said in a report.

Rice declined across all three categories holding inventory. Stock held by the National Food Authority (NFA) was down 22% year on year, by commercial warehouses/wholesalers/retailers down 15.2%, and by households down 7.3%.

Some 47.3% of all inventory was held by households, 44.8% by commercial warehouses/wholesalers/retailers, and 7.9% by the NFA.

Meanwhile, the corn inventory as of June 1 dropped 9.2% year on year to 873.48 thousand MT.

Month on month, corn stocks rose 12% from 779.79 thousand metric tons at the start of May.

Corn held by households and commercial warehouses/wholesalers/retailers fell 48% and 2.7% year on year, respectively.

Commercial warehouses/wholesalers/retailers held 91.7% of the inventory while 8.3% was held by households. — Luisa Maria Jacinta C. Jocson