PH rice stocks are up 6.6% on Dec 1st

Shares of rice reported in early December have been rising whereas these of corn have been falling, the Philippines Statistics Company (PSA) stated on Friday.

In its newest rice and corn shares stock report, the PSA stated the full shares of rice shares stood at 2,534.59 million tons (MT) as of December 1, up 6.6 % from the two,377.85 million tons, registered in the identical interval per 12 months.

Month-to-month, nonetheless, the December 2022 figures declined 4.3 % from the two,649.81 million tonnes logged in 2021.

The PSA stated family and business warehouses noticed will increase in rice shares of 13.8 % and 12.3 %, respectively. In distinction, rice shares in Nationwide Meals Authority (NFA) shops fell 49.8 % by means of December 2022.

In comparison with the earlier month, family rice shares fell 1.0 % and business shares fell 10.1 %. In distinction, progress of 4.0 % was recorded for NFA shares.

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The entire stock of family rice shares as of December 1, 2022 accounted for 58.2 % of the stock at 1,476.28 million tons, adopted by business shares with a share of 36.8 % at 933,010 tons and NFA shares with a share of 4, 9 % at 125,300 tons.

In the identical report, PSA stated the nation’s corn shares fell 19.3 % to 454,030 MT as of Dec. 1, in comparison with 562,840 MT a 12 months in the past.

It additionally fell 24.8 % from the earlier month’s stage of 603,670 MT.

The PSA stated corn shares from all sectors have been down in early December from their ranges over the identical interval in 2021.

Family corn shares fell 26.6 % month-on-month. Equally, corn inventories in business warehouses noticed a month-to-month decline of 24.4 %.