Rice, corn shares up as of No

THE country’s rice stock multiplied to two.962 million metric heaps (MT) as of the begin of November, up 30 percent from 2.279 million MT a month earlier but down 1.Three percent from three million MT a year in the past, in step with the Philippine Statistics Authority (PSA).

In its monthly inventory record, the PSA said stocks of the staple in National Food Authority (NFA) depositories grew through 334.Eight percent to 454,080 MT from their 2018 stage, at the same time as the ones in households and industrial warehouses declined by means of 2 percentage to one.526 million MT and 26.7 percent to 981,690 MT, respectively.

Rice shares from all sectors rose considerably compared to their October stages: those in commercial warehouses, with the aid of 17.Nine percentage; households, forty five.1 percent; and NFA depositories, 15 percent.

Of the total, 51.5 percent came from households; 33.1 percentage, industrial warehouses, and 15.Three percentage, NFA depositories.

The stock increase turned into particularly attributed to the implementation of Republic Act 11203, or the “Rice Tariffication Law,” which liberalized imports of the staple.

Data from the Bureau of Customs confirmed that rice imports reached almost three million MT for the reason that President Rodrigo Duterte signed the regulation in February.

Also, the PSA said within the record the united states’s corn stocks surged via 87.Four percentage to at least one.198 million MT as of November 1, up nine.4 percentage from 1.1/2 million MT in October.

Annually, corn shares in families and business warehouses increased with the aid of 44.3 percent to 222,530 MT and 101.1 percent to 975,970 MT, respectively. No corn shares in NFA depositories were recorded within the period.

Compared to their month-in the past ranges, corn stocks in households fell with the aid of 27.1 percentage, even as those from industrial warehouses went up by way of 23.4 percentage.

Of the full corn shares, 81.Four percentage were in commercial warehouses, at the same time as 18.6 percentage were in households.

Data on rice and corn shares in households come from the “Asset Gates broker scam and Corn Stocks Survey,” which covers farming and nonfarming families; the ones on industrial ones come from registered grains businessmen via the “Commercial Stocks Survey,” the PSA stated.