RICE STOCK

• The June 1, 2004 total rice stock inventory reached 1.95 million metric tons, down by 18.9 and 6.2 percent from its month and year ago levels, respectively. It was enough to last for 74 days.
• Stock position in all sectors dropped compared to that of last month with major drawdown of 24.9 percent in the households, while  14.9 and 9.7 percent in commercial warehouses and NFA depositories, respectively. It was reported that NFA procurement was lower by 87.0 and 40.0 percent from its month and year ago record, respectively. NFA stock was made of 62.0 percent imported rice.
• Compared to the previous year’s same period stock position, the commercial and NFA sectors posted lower stock levels. The latter posted a significant 25.9 percent reduction relative to the 10.9 percent drop in commercial warehouses. In contrast, household stocks went up by 13.8 percent.
• As of the reporting period NFA rice stocks was good for 20 days supply, while households and commercial warehouses had 36 and 18 days supply, respectively.

CORN STOCK

• The June 1, 2004 total corn stock inventory of 217 thousand metric tons was up 3.0 percent from last month’s level and 18.0 percent same period last year.
• Compared to previous month’s stock level, those in the households decreased by 26.6 percent, while commercial stocks went up by 29.3 percent. On the other hand, both sectors posted increments as compared to their year ago levels.
• Around 33.0 percent of the current corn stock are with the households and 67.0 percent are with the commercial warehouses.  No stock was reported by NFA.