Key takeaways:
- Philippine rice stocks dropped by 25% in December 2023, raising food security concerns.
- Corn stocks increase by 51.1%.
- The US Department of Agriculture predicts higher rice imports.
- Local group SINAG suggests a conservative estimate for rice imports.
- Fluctuations underscore the dynamic nature of the Philippines’ agricultural landscape.
The latest report from the Philippine Statistics Authority (PSA) highlights a concerning 25.2% decrease in the country’s rice stocks for December, pointing to potential challenges in ensuring enough food for everyone.
As of December 1, 2023, our rice stocks stood at 1.90 million metric tons, down significantly from 2.53 million metric tons the previous year. This drop is emphasized by a 4.2% decrease compared to November’s inventory of 1.98 million metric tons.
The decline affects all sectors, with NFA depositories down by 54.4%, households by 33.2%, and the commercial sector by 8.7% compared to December 2022. In comparison to the previous month, decreases were seen in the commercial sector by 5.5%, NFA depositories by 5.1%, and households by 3.0%.
Breaking it down, 52.1% of this month’s rice stocks come from households, 44.9% from the commercial sector, and 3.0% from NFA depositories.
The United States Department of Agriculture predicts that the Philippines will import 3.8 million metric tons of rice this year, exceeding the 3.22 million metric tons collected in 2023.
Local agriculture industry group SINAG suggests a more conservative estimate, projecting imports between 3.2 to 3.3 million metric tons.
In a different trend, the corn sector shows an increase. As of December 1, 2023, our total corn stocks reached 685.89 thousand metric tons, a 51.1% increase from the same period in 2022. However, the month-on-month data reveals a 12.0% decrease from November’s inventory of 779.46 thousand metric tons.
Annual increases were observed in corn stocks in the commercial and household sectors, with growth rates of 51.4% and 49.4%, respectively, compared to the same month the previous year. But, concerning trends include a 17.4% decrease in the commercial sector and a 28.1% increase in the household sector compared to November 2023.
Breaking down the total corn stocks inventory for December 2023, approximately 82.8% originated from the commercial sector, with the remaining 17.2% from households.
These fluctuations in rice and corn stocks highlight the dynamic nature of the Philippines’ agricultural landscape, with everyone closely watching to ensure we have enough food in the face of challenges.◼
Business Bayani PH 
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