RICE STOCK

• The March 1, 2011 total rice stock inventory reached 2.85 million metric tons (Figure 1). This was 6.5 percent lower than the previous month’s record of 3.05 million metric tons, but 26.7  percent higher than last year’s inventory of 2.25 million metric tons (Table 1).
• This month’s records were lower than last month’s stock levels in all sectors. Stocks in the household sector were down by 3.4 percent, and those in commercial sector decreased by 16.2 percent. Similarly, stocks in NFA depositories dropped by 4.9 percent.
• Compared to last year’s records, stock holdings of NFA, of which 73 percent were  imported rice, went up by 58.9 percent while those in commercial warehouses increased by 18.4 percent. In contrast, stocks in the households went down by 4.5 percent.
• As of March 1, 2011, the total volume of rice stocks would be enough for 83 days. Stocks in NFA depositories would be good for 45 days, while those in commercial  warehouses  would be good for 13 days. Household stocks would last for 25 days.
• Of the current stock level, about  30 percent were with the households, 16 percent were with the commercial warehouses and  54  percent were with the NFA depositories.

Table 1. Percentage change in the inventory of rice stocks,
Philippines, February 2011 and March 2010-2011

CORN STOCK

• The total corn stock inventory as of March 1, 2011 was 145.3 thousand metric tons. (Figure 2). This was 6.3 percent  lower than last month’s level of 155.1 thousand metric tons, and 40.4 percent below last year’s record of 243.6 thousand metric tons (Table 2).
• Compared with last month’s stocks levels, this month’s inventory showed stock drawdown by 5.9 percent in the households and by 6.8 percent in commercial warehouses. Stocks in NFA depositories recorded no change from last month’s inventory.
• Compared to last year, household stocks were higher by 14.3 percent. In contrast, stocks in commercial warehouses and in NFA depositories dropped by  17.4 percent and 99.7 percent, respectively.
• Of the current stock level, about 53.4 percent were with the households, 46.4 percent were with the commercial warehouses and NFA depositories accounted for 0.2 percent.

Table 2. Percentage change in the inventory of corn stocks,
Philippines, February 2011 and March 2010-2011