The Philippines’ total rice inventory at the start of August was estimated at 2.32 million metric tons, up 25 percent compared to the 1.86 million metric tons recorded in the same period last year, according to the Philippine Statistics Authority (PSA).
However, on a month-on-month basis, rice stocks fell by 17 percent from the 2.79 million metric tons reported on July 1.
The annual growth was driven primarily by a surge in stocks held by the National Food Authority (NFA), which tripled to 452.7 metric tons from the year-earlier period due to aggressive palay procurement from local farmers. Rice inventory stood at 147.2 thousand metric tons in August 2024.
Household rice stocks also increased by 52 percent, rising to 836.9 thousand metric tons year-on-year from 551.9 million metric tons, helped by lower prices.
In contrast, commercial stocks declined by 12 percent to 1.03 million metric tons from their year-earlier level of 1.17 million metric tons.
Month-on-month, both household and commercial rice stocks were lower, while NFA stocks posted a gain, reflecting the agency’s intensified procurement and buffer stocking activities.
Meanwhile, total corn inventory at the start of August dropped by 11% year-on-year, from 665.1 thousand metric tons to 590.7 thousand. Compared to July’s level of 624.4 thousand metric tons, corn stocks were down 5%.
The increase in rice stocks as a strategic buffer against potential supply disruptions, while the drop in corn inventory highlights ongoing pressure on local feed and livestock sectors.
Replenishment is expected as the main harvest season approaches and importers step up procurement ahead of a two-month import suspension starting September 1.
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