Rice and Corn Stocks Inventory, October 2021

Reference Number: 

2021-465

Release Date: 

Friday, November 19, 2021

RICE STOCK

Rice stocks inventory recorded 1,954.72 thousand metric tons as of 01 October 2021. This shows a decrement of -26.2 percent from 2,647.65 thousand metric tons in the same period of the preceding year.

On the other hand, rice stocks inventory rose by 46.7 percent from the previous month's level of 1,332.36 thousand metric tons. (Figure 1 and Table 1)

Figure 1 Inventory Rice Stocks October 2020, September 2021 and October 2021

Rice stocks inventory in all sectors were lower than their respective levels in the same period of the previous year. As a result, stocks in the households declined by -26.9 percent, commercial warehouses/ wholesalers/retailers by -23.9 percent, and NFA by -30.7 percent.

Compared with their previous month's records, increments in stocks inventory were noted in all sectors. Stocks in the households, commercial warehouses/wholesalers/retailers, and NFA depositories were higher by 66.1 percent, 34.2 percent, and 10.0 percent, respectively.

About 54.2 percent of this month’s total rice stocks were held in the households, 37.3 percent were from commercial warehouses/ wholesalers/retailers, and 8.5 percent were from NFA depositories. (Table 1)

Table 1. Level and Percent Change of Rice Stocks by Sector: Philippines
October 2020, September 2021, and October 2021

 

CORN

Corn stocks inventory as of 01 October 2021 posted at 513.93 thousand metric tons. This represents a yearly decrement of -47.9 percent from its level of 985.54 thousand metric tons in the same period of the previous year.

Likewise, corn stocks inventory fell by -8.3 percent from the previous month’s level of 560.61 thousand metric tons. (Table 2 and Figure 2)

Inventories of corn stocks in the households and commercial warehouses/wholesalers/retailers declined by -49.3 percent and -46.8 percent, respectively, relative to their levels in the previous year.

In comparison with their previous month’s levels, corn stocks in the households increased by 13.8 percent, while stocks in commercial warehouses/wholesalers/retailers decreased by -19.4 percent.

As of 01 October 2021, about 41.5 percent of the total corn stocks were from households, and 58.5 percent were from the commercial warehouses/wholesalers/retailers (Table 2)

Table 2. Level and Percent Change of Corn Stocks by Sector: Philippines
October 2020, September 2021, and October 2021

 

 

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

 

Technical Notes

 

Monthly rice and corn stocks inventory are generated from three sectors, namely: household, commercial, and government (National Food Authority). The household stocks are taken from the results of Palay and Corn Stocks Survey (PCSS) of the Philippine Statistics Authority (PSA).

Effective February 2021, PSA also generates the commercial stocks inventory from the results of Commercial Stocks Survey (CSS) per Implementing Rules and Regulations of Republic Act (RA) No. 11203 known as the “Rice Tariffication Law”.  The government stocks inventory is taken from administrative records from the National Food Authority.

The PCSS 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 for each barangay.

The CSS 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’ 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.

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