RICE

• As of November 1, 2011, total rice stock inventory was estimated at 3.21 million metric tons (Figure 1). This was 17.2 percent higher than the previous month’s record of 2.74 million metric tons. However, this was lower by 15.3 percent than last year’s inventory of 3.79 million metric tons (Table 1).
• Compared to last month’s levels, stocks in the households increased by 59.0 percent while those in commercial warehouses went up by 10.9 percent. Stocks in NFA depositories, of which 63 percent were imported rice, dropped by 7.1 percent.
• Relative to last year’s stock position, holdings grew by 3.1 percent in the households and by 2.9 percent in commercial warehouses. Stocks in NFA depositories decreased by 35.2 percent.
• As of November 1, 2011, the total volume of rice stocks would be enough for 95 days. Stocks in NFA depositories would be good for 35 days, while those in commercial warehouses would last for 21 days. Household stocks would be enough for 39 days.
• Of the current stock level, about 41 percent were with the households, 22 percent were with the commercial warehouses and 37 percent were with the NFA depositories.

Table 1. Percentage change in the inventory of rice stocks,
Philippines, October 2011 and November 2010 and 2011

CORN

• The total corn stock inventory as of November 1, 2011 was 200.9 thousand metric tons (Figure 2). The volume of stocks was lower by 24.3 percent from last month’s level of 265.2 thousand metric tons and 20.9 percent below last year’s record of 253.8 thousand metric tons (Table 2).
• Against last month’s records, stocks in the households decreased by 48.7 percent. In contrast, stocks in commercial warehouses went up by 5.8 percent. There was no change in stocks held in NFA depositories from last month’s inventory.
• Comparative estimates with stocks last year indicated reductions in the household sector by 43.4 percent and in NFA depositories by 98.2 percent. However, stocks in the commercial sector grew by 7.7 percent.
• Of the current stock level, around 37 percent were with the households, and 63 percent were with the commercial warehouses.

Table 2. Percentage change in the inventory of corn stocks,
Philippines, October 2011 and November 2010 and 2011