A. RICE STOCK

• Initial estimates of November 1, 2002 rice stock inventory reached 2.50 million metric tons. This is about 970 thousand metric tons more than the October rice stock.
• The big increase in stock this month over previous month was attributed to the almost 670 thousand metric tons additional volume in household stocks.
• Likewise, Commercial and NFA rice stock levels increased by about 35 percent, and 37.0 percent, respectively, from that of last month.
• • Compared to last year, stock level this year was lower by about 90 thousand metric tons. This was accounted for by the drop in commercial stock holdings by some  80 thousand metric tons. Minimal reductions were recorded in stock level of both households and NFA.
• About 54 percent of the November 1 rice stock were in households, 28 percent in NFA depositories, and 18 percent in commercial warehouses.
• The current rice stock is good for 96 days supply

Table 1 - Rice and Corn Stock Inventory as of November 1, 2002

B. CORN STOCK

• Initial estimates of November 1, 2002 corn stock reached 200 thousand metric tons. This was about 140 thousand lower than last month.
• The big drop in household stock holdings led to the drawdown in corn stock inventory this year as against same month ago. On the other hand, the drop in commercial stock level was minimal.
• Compared to last year, this year’s total corn stock level was up by 22.4 percent. Both households and commercial stock holdings went up by same magnitude
• The households held about 53 percent of the November 1 corn stock and the remaining were in commercial warehouses. NFA reported no stock holding.