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Year-end rice inventory seen rising to 3.64 MMT

By Janine Alexis Miguel

THE Department of Agriculture (DA) is optimistic that the country’s rice inventory will reach 3.64 million metric tons (MT) by year-end, or 91 percent higher than last year’s 1.9 million MT.

This, as the department sees an increase in palay (unmilled rice) production this year due to the “less pronounced” impact of El Niño on the country’s farms.

Agriculture Assistant Secretary for Operations U-Nichols Manalo said in a statement on Monday that the projected volume is equivalent to approximately 93 days of national rice consumption.

If the year-end projection turns out to be accurate, the DA said this could be the highest almost 15 years, exceeding the 3.42 million MT logged in 2010.

“This indicates that our rice and corn supplies were not severely impacted,” Manalo said.

The national rice inventory represents the total volume of rice available within the country at a given period after subtracting the demand from various sectors such as food consumption, waste, and other uses. This inventory encompasses both locally produced and imported rice.

The DA also reported that only 4 percent of the 4.5 million MT corn target production was affected by the dry weather phenomenon. This corresponds to 188,861 MT of stocks at the end of the dry cropping season.

As part of the government’s efforts to assist affected farmers and fishers, the department has distributed interventions across 170,469 hectares of crop areas. As of June 6, financial aid and farm inputs amounting to P9.23 billion have been distributed to 1.17 million beneficiaries.

In preparation for the anticipated La Niña, the DA said that it has initiated strategies focusing on water management.

“We are collaborating closely with relevant agencies to develop action plans that prioritize managing excess water resulting from anticipated heavy rainfall,” Manalo said.

Furthermore, the DA will manage initiatives such as desilting irrigation canals, repairing and rehabilitating irrigation systems, inspecting and maintaining gates and hoists, and building small-scale irrigation projects and canals.

The department is also encouraging the use of flood-resistant and early-maturing crop varieties and setting up seed reserves in crucial regions to maintain food production across the country despite unpredictable weather conditions.

https://www.manilatimes.net/2024/06/25/business/top-business/year-end-rice-inventory-seen-rising-to-364-mmt/1953059 QR Code

Published Date: June 24, 2024

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