The Philippines has enough rice stock to meet domestic requirements for the next two months, with a total inventory of 2.18 million metric tons as of April.
The current inventory level is 6.2 percent lower than the 2.32 MMT recorded during the same period in 2013, but is 22.3 percent higher than the previous month’s 1.78 MMT, the Bureau of Agricultural Statistics (BAS) said in a report.
A bumper harvest and rice imports are expected to further boost inventory in the coming months.
“This month’s rice stock levels in all sectors were up compared with last month. Stocks in the households and in commercial warehouses increased by 25.3 percent and 26.3 percent, respectively. Also, rice stocks in NFA depositories, with 85.5 percent imported rice, grew by 12.8 percent,” the bureau said.
Compared with last year, stocks in the households increased by 11.0 percent. On the other hand, stocks in commercial warehouses and in NFA depositories dropped by 29.4 percent and 11.2 percent, respectively.
“The total rice inventory for this month would be adequate for 64 days. Stocks in the households would be sufficient for 35 days, in NFA depositories for 15 days, and in commercial warehouses for 14 days,” the bureau said.
National Food Authority spokesperson Rex Estoperez said the month-on-month increase in April’s rice stock inventory is a result of a bumper harvest, particularly in major rice producing areas.
Estoperez added that they expect a further boost in the rice stocks with the arrival of imported rice from Vietnam, which will serve as the government’s buffer stock during the lean season.
Earlier, the NFA awarded to Vietnam the supply of 800,000 MT of rice, scheduled to arrive starting May in various ports of the country, with delivery expected to be completed in August.