RICE

• The total rice stock inventory as of August 1, 2011 was estimated at 2.72 million metric tons (Figure 1). This was below last month’s level of 3.02 million metric tons by 10.0 percent and lower than last year’s record of 3.18 million metric tons by 14.6 percent (Table 1).
• Compared to previous month’s stock position, this month’s holdings dropped by 22.6 percent in the households and 13.2 percent in commercial warehouses. The volume of stocks in NFA depositories of which 70 percent were imported rice, was lower by 1.6 percent.
• Relative to last year’s levels, stocks in the households were lower by 4.8 percent and those in NFA depositories by 27.0 percent. In contrast, stocks in commercial warehouses increased by 24.4 percent.
• The total rice stocks would be enough for 80 days. Stocks in NFA depositories would be good for 44 days, while those in commercial warehouses would be good for 17 days. Household stocks would last for 19 days.
• Of this month’s total rice stocks, 23 percent were with the households, 22 percent were with the commercial warehouses and 55 percent were with the NFA depositories.

Table 1. Percentage change in the inventory of rice stocks,
Philippines, July 2011 and August 2010 and 2011

CORN

• The August 1, 2011 total corn stock inventory was 157.0 thousand metric tons (Figure 2). This was 29.1 percent lower than last month’s record of 221.3 thousand metric tons, but 24.1 percent higher than last year’s level of 126.5 thousand metric tons (Table 2).
• Compared with last month’s inventory report, household stocks increased by 4.4 percent. On the other hand, stocks in commercial warehouses dropped by 37.7 percent. There was no change in stocks held in NFA depositories from last month’s inventory.
• Compared to last year’s records, stocks in commercial warehouses recorded an increment of 67.1 percent. In contrast, household stocks dropped by 6.0 percent and stocks in NFA depositories reported significant decrease of 99.7 percent.
• Around 30 percent of the total corn stocks were with the households and 70 percent were with the commercial warehouses.

Table 2. Percentage change in the inventory of corn stocks,
Philippines, July 2011 and August 2010 and 2011