The country’s inventory of rice and corn as of May 2021 dropped from their 2020 volumes, according to data from the Philippine Statistics Authority (PSA).
Rice stocks for the period stood at 2.58 million metric tons (MT), down 7.5 percent from May 2020’s 2.79 million MT. However, compared with April 2021 figures of 2.44 million MT, the amount is an increase of 5.8 percent.
From that volume, 1.43 million MT or 55.1 percent are in households, 918,690 MT or 35.5 percent are held by commercial warehouses, wholesalers and retailers and the remaining 241,130 MT or 9.3 percent are in the depositories of the National Food Authority.
Corn inventory as of May 2021 stood at 826,730 MT, a 1.6 percent drop from May 2020’s 840,520 MT. Compared with April 2021 figures of 713,680 MT, this is a 15.8- percent improvement.
Of the amount, 285,020 MT or 34.5 percent are in households while the remaining 541,710 MT or 65.5 percent are held by commercial warehouses, wholesalers and retailers.
In 2020, palay production rose 2.6 percent to 19.3 million MT from 2020’s 18.81 million MT while corn production reached 8.12 million MT, a 1.7 percent increase from the previous 7.98 million MT. – Jed Macapagal
