Philippine rice and corn stocks rise in October

he Philippines saw a notable increase in its main grain inventories in October, driven by higher stocks in households and government warehouses. According to the Philippine Statistics Authority (PSA), total rice stocks as of October 1 reached 2.35 million metric tons (MMT), up 3.2% from 2.28 MMT in the same month last year.

Of the total rice inventory, 40.5% was held by the commercial sector, 40.4% by households, and 19% by the National Food Authority (NFA) depositories. On a yearly basis, household rice stocks rose by 6%, and those in NFA depositories surged by 159.4%, while commercial inventories declined by 21.1%. Compared to September, overall rice stocks grew by 13.6%.

Corn inventories also posted strong growth, reaching 846,810 metric tons as of October 1, up 16.3% year-on-year. On a monthly basis, corn stocks jumped by 52.5%. About 78% of total corn inventories were held by the commercial sector, while households accounted for the remaining 22%.

Overall grain production in the Philippines increased in the first half of the year. Rice output reached 9.08 MMT, up 6.4% from the same period last year, while corn production rose by 5.2% to 3.9 MMT.

Tags: corn, Philippines, rice, stocks