Rice stocks enough for more than 120 days
The country has over 120 days rice buffer stock in the beginning of May.
A staff of former National Food Authority administrator Renan Dalisay, James Galarosa, said the NFA has more than 30 days buffer stock when they left the agency this week and that rice held by household and traders are enough to cover more than 90 days of the country’s requirement.
The Bureau of Agricultural Statistics hasn’t released the monthly rice and corn inventory for March and its last release on rice and corn stocks was dated March 15, 2016 and covered the month of February 2016.
The NFA recently halted the auction of the rice it imported in 2014 to prevent farm gate prices of palay from falling because farmers were already beginning to harvest their summer crops.
The BAS latest data points to a rice inventory of 2.94 million tons in the beginning of February, about a fourth more than what it had in the same period last year as the NFA and commercial traders increased their stocks in anticipation of lower harvests because of the El Nino phenomenon.
Dalisay was recruited to the NFA by former Senator Francis Pangilinan when he was drafted to the cabinet as Presidential Assistant for Food Security and Agricultural Modernization. (By: Eileen A. Mencias)