Inventories of rice and corn increased as of October 1

The country recorded rising stockpiles of rice and corn as of October 1, the Philippine Statistics Authority reported Monday.

At 2.08 million metric tons (MMT), rice stocks were 6.5 percent higher than the 1.954 MMT recorded in the previous year. On a monthly basis, the increase was 43.5 percent greater compared to 1.45 MMT in September.

Meanwhile, corn stocks posted double-digit gains both month-on-month and year-over-year to 720,600 metric tons — up 40.2 percent from October 2021’s 513,930 metric tons and up 28.3 percent from September’s 561,700 metric tons.

Households and commercial establishments accounted for the bulk of rice stocks, with the former owning 56.3 percent or 1.172 million metric tons and the latter 38.3 percent or 798,120 metric tons. Both rose 10.7 percent and 9.5 percent year-on-year, respectively, and 65.1 percent and 27.1 percent month-on-month.

The National Food Authority, whose stock was 111,040 metric tons, decreased by 33.2 percent from the previous year and 1.2 percent from September, and its share was the smallest.

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As for corn, 510,570 metric tons — more than two-thirds, or 70.9 percent of the stock — were with commercial enterprises. The latest tally was higher at 69.8 percent year-on-year and 9.6 percent month-on-month.

Household corn stocks totaling 210,040 metric tons accounted for the remaining 29.1 percent of the stock. While this was 119.4 percent higher compared to September, it was down 1.5 percent compared to the October 2021 level.

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