RICE

• The July 1, 2011 total rice stock inventory was 3.02 million metric tons (Figure 1). This was 2.3 percent lower than last month’s record of 3.09 million metric tons and 9.9 percent below last year’s level of 3.35 million metric tons (Table 1).
• Compared to last month’s stocks levels, this month’s inventory recorded stock drawdown by 9.7 percent in the households and 6.7 percent in commercial warehouses. However, stocks in NFA depositories were higher by 4.6 percent.
• Comparative estimates with stocks last year indicated reductions in the household sector by 7.5 percent, and in NFA depositories of which 70.0 percent were imported rice, by 25.9 percent. In contrast, stocks in the commercial sector was higher by 62.1 percent.
• The total rice stocks would be enough for 88 days. Stocks in NFA depositories would be good for 44 days, while those in commercial warehouses would be good for 20 days. Household stocks would last for 24 days.
• Of the current stock level, about 27 percent were with the households, 23 percent were with the commercial warehouses and 50 percent were with the NFA depositories.

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

CORN

• The total corn stocks as of July 1, 2011 was estimated 221.3 thousand metric tons (Figure 2). The volume of stocks was 5.6 percent lower than last month’s record of 234.5 thousand metric tons, but 102.9 percent more than last year’s inventory of 109.1 thousand metric tons (Table 2).
• Compared to last month’s levels, stock position in the households dropped by 4.8 percent, and that in commercial warehouses by 5.8 percent. There was no change in stocks held in NFA depositories from last month’s inventory.
• Relative to last year’s inventory, household stocks grew by 22.0 percent, and stocks in commercial warehouses recorded a significant increase of 200.7 percent. In contrast, stocks in NFA depositories dropped by 99.8 percent.
• Of this month’s total corn stocks, around 79 percent were with the commercial warehouses, and 21 percent were with the households.

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