PSA: Rice stock down 7.5% in March

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Metro Manila (CNN Philippines, May 18) — The national inventory of rice stock dropped by 7.5 percent from February to March this year, data from the Philippine Statistics Authority (PSA) showed.

In its inventory report released Wednesday, the PSA said the rice inventory was at 1.41 million metric tons (MT) at the beginning of March, a 13.7 percent decline year-on-year.

"With reference to the previous month, rice stocks exhibited month-on-month reduction in the household sector by -7.5 percent, in the commercial sector by -8.7 percent, and in NFA depositories by -1.6 percent," it added.

Rice in households, which account for 57.6% of the total, dropped by 6.2% or 811.52 MT. Rice stored in commercial warehouses sank by 19.2% while stock held by the National Food Authority depositories decreased by 33.9%.

In the same report, the agency said corn inventory also declined by 29.1% (317.86 thousand MT) from 2022.