NFA rice inventory depletes in January 2018

Compared to January 2017's buffer stock, National Food Authority (NFA) rice depositories plummeted to 80.48 percent.

The latest Philippine Statistics Authority (PSA) release indicated that rice and corn inventory stocks showed a decline of 17.20 percent from 2,765.12 metric tons (MT) to 2,289.65 MT. It is also far lesser than last month's inventory output with a 19.64 percent deficit which was 2,849.37 MT. Relatively to the previous year, the rice inventory in the households increased by 9.40percent but commercial warehouses' stock inventory down by 9.50 percent. In comparison to December 2017 stocks, household inventory also decreased by 19 percent; 18.84 percent decrease on commercial warehouses and 31.77 percent drop in NFA depositories. The statistics showed that the 2,287.65 MT January stocks, only 106.86 MT or 4.67 percent of it comprises NFA depositories. Currently, NFA has imported 250,000 MT of rice to fill up the drastic down on the NFA stocks. NFA Administrator Jason Aquino assured the public that there is no rice shortage but NFA has recorded a low inventory. PSA said that the total rice stock inventory for the month would last for 67 days.