RICE STOCK

• The January 1, 2011 total rice stock inventory was 3.42 million metric tons (Figure 1). This was 12.3 percent lower than the previous month’s record, but 30.3 percent higher  than last year’s level (Table 1).
• Stock inventories in all sectors recorded stock drawdowns from last month’s levels. Stocks in the household sector were lower by 20.6 percent, and those in commercial sector by 20.8 percent. Likewise, stocks in NFA depositories dropped by 2.3 percent.
• Compared to last year’s levels, stock inventories in the households at the beginning of this year went down by 5.5 percent. In contrast, stocks in NFA depositories, of which 76 percent were imported rice, were higher by 76.8 percent. Stocks in commercial warehouses also grew by 24.5 percent.
• As of January 1, 2011, the total volume of rice stocks would be enough for 101 days. Stocks in NFA depositories would be good for 51 days, while those in the commercial sector would be good for 16 days. Household stocks would last for 34 days.
• Of this month’s total rice stocks, 33 percent were with the households, 16 percent were with the commercial warehouses, and 51 percent were with the NFA depositories.

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

CORN STOCK

• The total corn stock inventory as of January 1, 2011 reached 152.5 thousand metric tons (Figure 2). This was 14.6 percent below last month’s level and 40.1 percent lower than last year’s inventory (Table 2).
• Stock inventories in all sectors recorded stock drawdown from last month’s levels. Stocks in the households went down by 17.9 percent, and those in commercial warehouses and NFA depositories went down by 9.9 percent and 54.6 percent, respectively.
• Relative to last year’s  inventory  records, stocks in the households were higher by 17.1 percent. Stocks in commercial  warehouses were lower by 22.5 percent and in NFA depositories, by 98.9 percent.
• Around 49 percent of this month’s total corn stocks were with the households, 50 percent with the commercial  warehouses  and  1 percent was with the NFA depositories.

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