Philippines' rice stocks drop 20% from Feb prev yr

The Philippines' monthly rice stocks fell to their lowest level in a year as supplies in both commercial entities and households declined, according to the Philippine Statistics Authority (PSA).

As of Feb. 1, nationwide rice inventory stood at 1.16 million metric tons (MMT), marking an 18 percent increase from the same period last year but a nearly 20 percent decrease from February.

Household rice stocks grew by nearly 13 percent year-on-year to 784,500 MT, while commercial sector inventory fell by 42.8 percent to 527,780 MT compared to the previous month.

The National Food Authority's (NFA) rice stock surged to nearly 300,000 MT from 41,290 MT last year, reflecting a significant increase in government-held reserves.

Corn inventory also declined by 32.6 percent year-on-year and 18.3 percent compared to February, with commercial sector stocks decreasing by 36.1 percent and household stocks increasing by 14.2 percent.