A. Rice Stock

• Preliminary estimate of the January 1, 2003 national rice stock inventory reached 2.61 million metric tons. It was 14.2 percent over last year’s level with all sectors having posted positive growth. NFA holdings rose by almost 26.0 percent. Around 73.0 percent of NFA stocks were imported rice. As to stocks in the households and commercial warehouses, the levels grew by 5.9 and 16.7 percent, respectively.
• Compared to the December 1, 2002 stock position, the current stock volume is 3.9 percent lower with the household sector reporting a major drawdown of 15.6 percent. On the other hand, holdings in the commercial sector posted a high growth of 20.2 percent.
• The current rice stock volume is good for 100 days, with the households having 45 days supply, commercial warehouses, 21 days, and NFA, 34 days.

B. Corn Stock

• The total corn stock inventory as of January 1, 2003 was estimated at 233.0 thousand metric tons. Compared to last year’s level, it was about 31.3 percent higher. Both households and commercial stocks position went up significantly by 23.4 and 36.8 percent, respectively.
• Compared to the previous month’s level, it was almost 10.0 percent larger due to the 34.6 percent increase in commercial stocks inventory. A quick turn around in households’ stocks level was noted as it recorded a 15.3 percent stock drawdown.
• NFA has no reported corn stock for the month.