The country’s rice inventory slid in December last year from the same month in 2019, data from the Philippine Statistics Authority revealed.
Rice stocks during the month stood at 2.77 million metric tons , down by 10.7% from December 2019. The figure is also lower by 12.4% than the 3.16 million MT logged in NovemberThe report did not specifically state how long this figure would last the country, but based on the country’s average daily consumption of 32,000 MT, the latest rice stocks figure is enough to last at least 86 days.
Inventory in commercial warehouses and NFA depositories shrank by 21.3% and 26.6% year-on-year, respectively. Households, meanwhile, saw a slight 0.7% growth in their rice stocks. However, all three sectors saw declines compared to November’s figures. Commercial warehouses suffered the worst inventory contraction at 17.5%, followed by households at 10.5% and NFA depositories at 8.5%.
Households’ stocks comprised the biggest chunk of the country’s total rice inventory at 58.5%. Commercial warehouses followed with 28.7%, then NFA depositories at 12.8%.