PH’s rice inventory improves in May
Albeit still lower from last year’s level, the level of the country’s rice inventory in May still improved, even hitting a six-month high.
Based on a data from the Philippine Statistics Authority (PSA), the rice inventory during the period reached 2.9 million metric tons (MMT), which is 9.48 percent lower than the previous year’s output of 3.2 MMT.
This is, however, 33.3 percent higher than the previous month’s inventory.
Of the total rice inventory, 52.11 percent were with households, 47.77 percent were held by commercial warehouses and 0.12 percent was in NFA depositories.
The total volume of rice held by commercial warehouses during the period reached 1.516 MMT, while those in households amounted to 1.389 MMT.