Rice stocks up in start of July

The country’s total rice inventory as of July 1 this year increased to 2.625 million metric tons (MT) mainly due to the entry of imported rice under the government’s liberalization program, the Philippine Statistics Authority (PSA) said.

In its latest “Rice and Corn Stocks Inventory” report, the PSA said the figure was 31.9 percent higher than the 1.990 million MT in the same period last year. On a monthly basis, the volume went up by 1 percent from 2.598 MMT in June.