Inventory stocks of rice and corn at the start of October increased, according to the Philippine Statistics Authority (PSA).
This developed as the Department of Agriculture (DA) said it is conducting an inventory of red onion supply in the country to seek the real reason of rising retail cost.
The PSA report said as of October 1, total rice stocks inventory stood at 2.08 million metric tons (MT), a 43.5 percent jump compared with September 2022’s 1.45 million MT.
It was also higher by 6.5 percent than the 1.95 million MT recorded in the same month a year ago.
As much as 56.3 percent of the total rice stocks inventory were from households; 38.3 percent from commercial warehouses, wholesalers and retailers and; 5.3 percent from National Food Authority’s depositories.
Data from the Bureau of Plant Industry showed 3.36 million MT imported rice arrived in the Philippines as of November 17.
DA monitoring of public markets in the National Capital Region yesterday showed the price per kilogram (kg) of imported rice was P50 for special variety; P45 for premium; P40 for well-milled; and P38 for regular milled.
For local rice, special variety was P50; premium, P45; well-milled, P40 and; regular milled, P38.
PSA said the country’s corn stocks inventory reached 720,600 MT as of October 1, a 28.3 percent growth from September’s 561,700 MT.
On a year-on-year comparison, the country’s corn stocks inventory was a 40.2 percent surge from September 2021’s inventory level of 513,930 MT.
PSA said of the total corn stocks inventory, 70.9 percent were from commercial warehouses, wholesalers and retailers with the remaining 29.1 percent from households.
DA Assistant Secretary Kristine Evangelista, said at the Laging Handa public briefing yesterday the Bureau of Plant Industry is taking a look at the inventory of cold storages and will complete its report within the week.
Evangelista said the country’s current onion supply is mostly from cold storages and have been purchased by traders.
The DA also expects harvest of red onions by next month which can help in pulling down retail prices apart from the volume being sold in Kadiwa rolling stores which are capped at P170 per kg.
DA’s monitoring yesterday showed that local onions are being sold at P280 per kg in local public markets in Metro Manila.
