Bumper harvest boosts May PH rice stocks

THE government said a bumper harvest pushed the country’s rice stocks higher at the beginning of May this year compared to the previous month, but there was no assurance whether this would help reduce the domestic prices of rice.

In a report, the Philippine Statistics Authority -Bureau of Agricultural Statistics said that as of May 1, the Philippines had enough rice stocks to meet domestic requirements for 74 days, up from 64 days recorded in the previous month.