Rice and Corn Stocks Inventory, November 2022

Reference Number: 

2023-33

Release Date: 

Tuesday, January 24, 2023

RICE

As of 01 November 2022, the total rice stocks inventory was estimated at 2,649.81 thousand metric tons. This indicates an annual growth of 9.6 percent from its level in the same month of last year, which was 2,418.43 thousand metric tons.

Month-on-month, the volume of stocks was 27.3 percent higher than its previous month’s inventory level of 2,081.84 thousand metric tons. (Figure 1 and Table 1)

Figure 1. Inventory of Rice Stocks, Philippines
November 2021, October 2022, and November 2022

Rice stocks from household and commercial warehouses/wholesalers/retailers showed annual increments of 11.9 percent and 23.3 percent, respectively. Meanwhile NFA depositories stocks dropped by -50.7 percent.

All sectors’ level of stocks grew in comparison to their last month’s record. About 27.2 percent month-on-month increase was noted in households, 30.1 percent in commercial warehouses/wholesalers/retailers, and 8.5 percent in NFA depositories.

As of November 2022, about 56.3 percent of the total rice stocks were from the households, 39.2 percent from commercial warehouses/wholesalers/retailers, and 4.5 percent from NFA depositories. (Table 1)

Table 1. Level and Percent Change of Rice Stocks by Sector
Philippines: November 2021, October 2022, and November 2022

 

CORN

The country’s total corn stocks inventory as of 01 November 2022 was estimated at 603.67 thousand metric tons. This represents an increase of 8.8 percent from its level in the same month of the previous year of 554.68 thousand metric tons.

On the other hand, this month’s corn stocks inventory level was lower by -16.2 percent from its last month’s record of 720.60 thousand metric tons. (Figure 2 and Table 2)

Figure 2. Inventory of Corn Stocks, Philippines
November 2021, October 2022, and November 2022

Over last year, stock level from commercial warehouses/wholesalers/retailers was higher by 17.7 percent. However, this month’s volume of stocks from the households was lower by -19.3 percent, year-on-year.

Compared with the previous month, volume of stocks from both the households and commercial warehouses/wholesalers/retailers dropped by -48.8 percent and -2.8 percent, respectively.

The households contributed around 17.8 percent of this month’s total corn stocks inventory, while 82.2 percent were from commercial warehouses/wholesalers/retailers. (Table 2)

Table 2. Level and Percent Change of Corn Stocks by Sector
Philippines: November 2021, October 2022, and November 2022

 

 

DENNIS S. MAPA, Ph.D.
Undersecretary
National Statistician and Civil Registrar General

 

DGLDP/SCDG/RCL

 

 

 

Technical Notes

Monthly rice and corn stocks inventory are generated from three sectors, namely: household, commercial, and National Food Authority (NFA). The household and commercial stocks are taken from the results of Rice and Corn Stocks Survey: Household (RCSS:H) and Rice and Corn Stocks Survey: Commercial (RCSS:C) of the Philippine Statistics Authority (PSA). The RCSS:H and RCSS:C were formerly known as Palay and Corn Stocks Survey (PCSS) and Commercial Stocks Survey (CSS), respectively. These surveys were renamed as per PSA Board Resolution No. 02 Series of 2021 on Approving and Adopting the Modifications in the System of Designated Statistics dated 11 May 2021. The renaming of the designated statistical activity, from Palay/Rice and Corn Stocks Surveys to Rice and Corn Stocks Surveys, was done to provide a generic name for the two rice and corn stocks surveys and to differentiate the commercial stocks inventory from that of the household stocks inventory.
 
The RCSS:H covers sample farming households and non-farming households nationwide. Sample farming households are sub-sample of Palay Production Survey (PPS) and Corn Production Survey (CPS). In these surveys, the primary sampling units (PSUs) are the palay/corn producing barangays and secondary sampling units (SSUs) are the palay/corn farming households. The PSUs are selected using probability proportional to size, while the SSUs are selected through systematic sampling. For the non-farming households, five non-farming households are selected from each PPS and CPS sample barangays.

The RCSS:C employs a two-stage systematic sampling wherein the first level of stratification is the line of activity of the NFA registered grains businessmen and the second level of stratification is the businessmen’s capitalization. The line of activity of grains businessmen are stratified into four: 1 – retailers, 2 – wholesalers, 3 – combined retailers/wholesalers, and 4 – warehousemen.  The line of activity is further sub-stratified according to businessmen’s capitalization such as 1 – big, 2 – medium, and 3 – small capitalization structure, while warehousemen are sub-stratified into two, that is 1 – big and 2 – combined medium and small.

Attachment: 

Tags: