Rice stocks down by 17.9% in Oct

THE Philippines’ total rice stocks decreased by 17.87 percent to 1.59 million metric tons (MMT) as of October 1 from 1.94 MMT a year ago, the Philippine Statistics Authority (PSA) said.

The data came as the National Food Authority (NFA), backed by the Trade department and the Philippine National Police (PNP), began imposing penalties on those violating the suggested retail prices (SRPs) of the staple as officials from these agencies inspected a market in Sampaloc, Manila on Friday.