Rice stocks up 7% year-on-year

The country's rice stocks in September rose by almost seven percent on an annual basis to nearly 1.7 million metric tons (MT) on the back of higher inventories held by commercial entities and the National Food Authority (NFA).

- By JASPER EMMANUEL ARCALAS

The Philippine Statistics Authority (PSA) reported that nationwide rice stocks as of Sept. 1 stood at 1.66 million MT, 6.8 percent higher than the 1.55 million MT recorded in the same period last year.

The increase was driven by higher rice inventories in commercial entities and NFA warehouses, according to the PSA report.

Rice stocks in commercial entities rose by 16.4 percent to 1.05 million MT from last year's 902,290 MT.