March rice stocks fall to one-year low

Despite rising on an annual basis, the country's monthly rice stocks fell to their lowest level in a year as supplies in both commercial entities and households declined, according to the Philippine Statistics Authority (PSA).

- By JASPER EMMANUEL ARCALAS

Nationwide rice inventory as of March 1 reached 1.61 million metric tons (MT), about 18 percent higher than the 1.37 million MT recorded level in the same period last year, the PSA said.

However, the latest stock level fell by almost a fifth from February's 2.01 million MT recorded inventory, according to the PSA.

The latest March rice inventory level is the lowest in a year or since the 1.37 million MT recorded in the same month of last year, PSA data showed.