PHL rice inventory rises 1.3% month on month in early June – BusinessWorld Online
THE national rice inventory rose 1.3% month on month to 2.37 million metric tons (MMT) as of June 1, as the government built up its grain holdings.
Year on year, inventory rose 14.2%.
As of June 1, 49.4% of the rice stocks was held by households, 33.9% by the commercial sector, and 16.8% by the National Food Authority (NFA).
Month on month, rice stocks held by the NFA rose by 14.7%. Rice held by the commercial sector fell 2.1%, and by households fell 0.3%.
Stocks held by NFA warehouses and the commercial sector rose 472.8% and 35.5% year on year, respectively, it added. Household stocks fell 29.7%.
The NFA’s reserves hit 400,000 metric tons as of May 31.
Department of Agriculture spokesman Arnel V. de Mesa has said that the inventory levels in December were “enough until the harvest.”
Supply is considered “sufficient” to bridge the lean months between mid-July and mid-August, he added. — Kyle Aristophere T. Atienza