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PIA Press Release
2010/07/29

Northern Mindanao beginning rice inventory up 49.03% in March

by Rutchie Cabahug Aguhob

Cagayan de Oro City (29 July) -- Northern Mindanao had a total rice equivalent (TRE) of 2,086,307 bags of rice at 50 kgs. per bag, as of March 1, this year, higher by 49.03 percent compared to 1,399,964 bags in March 1, last year.

With an average consumption requirement of 27,350 bags per day, the rice inventory of the region, as of the period, was estimated to last for 76 days, said Javier P. Lozada, Jr., Regional Director of National Food Authority (NFA), region 10.

The inventory already included the existing 1,749,717 bags of rice stocks plus 336,590 bags of converted milled rice out of 534,270 bags of "palay" at 63 percent milling recovery.

In terms of holdings/ownerships, however, the rice inventory showed that 1,380,612 bags or 66.17 percent were stocked by NFA in their warehouses, 343,059 bags or 16.44 percent by the commercial sector and 362,636 bags or 17.38 percent, by the households.

Again, in terms of increase of stocks, those held by the NFA warehouses increased from 705,676 bags to 1,380,612 bags or 95.64 percent and those held by the commercial sector, from 160,356 bags to 343,059 bags or 113.94 percent.

But those held by the households declined from 533,931 bags to 362,636 bags or down by 32.08 percent, Lozada said.

Meanwhile, the biggest share of the TRE went to the province of Misamis Oriental with 1,276,234 bags or 61.17 percent followed by Bukidnon with 423,576 bags or 20.30 percent.

Lanao del Norte had 223,404 bags or 10.70 percent, Misamis Occidental, 148,511 bags or 7.12 percent and Camiguin, 14,582 bags or 0.69 percent. (PIA 10) [top]

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