RICE

The total rice stocks inventory as of 01 February 2023 was estimated at 1.52 million metric tons. Relative to the same period of the previous year’s inventory level of 1.61 million metric tons, a decline of -5.4 percent was recorded.

In contrast to the previous month’s level of 1.85 million metric tons, the current rice stocks inventory exhibited a decline of -17.7 percent. (Figure 1 and Table 1)

Figure 1. Inventory of Rice Stocks, Philippines
February 2022, January 2023, and February 2023

Relative to their respective levels from the same period of last year, decrements in rice stocks were noted in all sectors. Annual decreases were registered in the household stocks by -0.6 percent, in commercial sector by -0.7 percent, and in NFA depositories by -42.2 percent.

Compared with their record in the previous month, rice stocks in all sectors for February 2023 contracted by -19.1 percent in the household, -17.0 percent in commercial sector, and -8.8 percent in NFA depositories.

The total rice stocks inventory for the month comprised of 57.6 percent from the household, 35.5 percent from the commercial sector, and 6.9 percent from the NFA depositories. (Table 1)

Table 1. Level and Percent Change of Rice Stocks by Sector
Philippines: February 2022, January 2023, and February 2023

CORN

The country's total corn stocks inventory level as of 01 February 2023 reached 366.40 thousand metric tons, which indicates a reduction of -22.5 percent from the previous year's inventory level of 472.57 thousand metric tons.

From the previous month’s corn stocks inventory level of 409.49 thousand metric tons, corn stocks as of 01 February 2023 recorded a decrease of -10.5 percent. (Figure 2 and Table 2)

Figure 2. Inventory of Corn Stocks, Philippines
February 2022, January 2023, and February 2023

Compared with the corn stocks in the same period of previous year, decreases were registered in all sectors. Annual declines of -20.2 percent and -23.0 percent were exhibited in the household and commercial sectors, respectively.

Of this month's corn stocks inventory, household stocks displayed a downturn of -4.7 percent from the previous month's inventory level. Consistently, a month-on-month decrement of -11.9 percent was observed in commercial stocks.

About 20.5 percent of this month's total corn stocks inventory level were from the households and 79.5 percent were from the commercial sector. (Table 2)

Table 2. Level and Percent Change of Corn Stocks by Sector
Philippines: February 2022, January 2023, and February 2023

DIVINA GRACIA L. DEL PRADO, PhD
(Assistant National Statistician)
Officer-in-Charge, Deputy National Statistician
Sectoral Statistics Office