We gotta give these to the guys over at the Department of Agriculture for addressing what seemed to be a huge problem of food shortage. The threat is still not gone but hey, something was done, and something is being done. Bravo.
here's the news clip from the Inquirer:
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May 1 inventory good for more than two months
MANILA, Philippines--The country's total rice inventory hit 2.25 million metric tons, enough to last for 68 days, as of May 1.
According to a Bureau of Agricultural Statistics report, this level is about 19 percent higher than the 1.89 million MT a year ago and 18 percent more than the 1.9 million MT in the previous month.
Of the total inventory as of May 1, stocks in households accounted for the bulk or 1.178 million tons, enough to last for 36 days. This was, however, lower by 0.6 percent compared to year-ago level of 1.18 million tons.
In the meantime, stocks in commercial warehouses reached 484,600 tons, equivalent to a 14-day inventory, higher by 7.1 percent than the 452,600 tons recorded in the same period last year, the BAS said.
The agency also said stocks in National Food Authority depositories surged 129 percent to 587,800 tons from 256,200 tons in the same period last year.
The NFA inventory, of which 96 percent was imported, was good to last for 18 days.
As of end April, the state-owned grains agency had managed to contract 1.713 million MT of rice, of which some 700,000 tons had already been delivered. Shipments of additional stocks from the United States, Thailand, Vietnam and Pakistan are expected to be completed by July and August.
In the meantime, the country's total corn stock as of May 1 was estimated at 329,600 MT, higher than its year-ago level of 203,700 MT and previous month's level of 260,200 MT. The corn inventory excludes the corn stock held by commercial livestock and poultry producers and the corn mixed in feed stocks, BAS said.
While the NFA was not maintaining corn stock during the period, the BAS said 225,600 MT, or 68 percent of the total, were in commercial warehouses while the rest or 104,000 tons are being held by households.
Stocks in commercial warehouses went up by 159.9 percent and 90.7 percent compared to stock levels a year ago and a month ago, respectively.
As of the first quarter of the year, local corn production rose by 16.93 percent to 1.99 million tons due to increases in harvest areas and yields, particularly for yellow corn.
In the same period last year, corn output reached 1.7 million MT.
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