RICE

As of 01 March 2023, rice stocks inventory was registered at 1.41 million metric tons. Relative to the same period of the previous year’s level of 1.63 million metric tons, the current rice stocks inventory indicates a decline of -13.7 percent.

Moreover, in comparison with the previous month’s record of 1.52 million metric tons, the March 2023 rice stocks inventory level recorded a decrease of -7.5 percent. (Figure 1 and Table 1)

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

In comparison with their levels in March 2022, decreases in rice stocks were registered in all sectors for March 2023. Annual declines were noted in the household sector by -6.2 percent, in commercial sector by -19.2 percent, and in NFA depositories by -33.9 percent.

With reference to the previous month, rice stocks exhibited month-on-month reduction in the household sector  by -7.5 percent, in commercial sector by -8.7 percent, and in NFA depositories by -1.6 percent.

Of the total rice stocks for this month, 57.6 percent were in the households, 35.1 percent in commercial sector, and 7.3 percent in NFA depositories. (Table 1)

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

CORN

As of 01 March 2023, the total corn stocks inventory stood at 317.86 thousand metric tons. Compared with the same month of the previous year’s inventory level of 448.31 thousand metric tons, the corn stocks inventory in March 2023 registered an annual decrement of -29.1 percent.

Similarly, relative to the February 2023 corn stocks inventory level of 366.40 thousand metric tons, the corn stocks as of 01 March 2023 recorded a decline of -13.2 percent. (Figure 2 and Table 2)

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

Corn stocks inventory in the households reported an annual decrease of  -33.9 percent compared with its same month of the previous year’s level, while corn stocks in commercial sector also exhibited a contraction of -27.4 percent.

Relative to the previous month’s inventory level, corn stocks inventory in the commercial sector recorded a decrement of -17.7 percent during the month. On the contrary, corn stocks in the households grew by 3.9 percent month-on-month.

The total corn stocks inventory comprised of 75.4 percent from the commercial sector and 24.6 percent from the household sector. (Table 2)

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

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