RICE STOCK

• Initial estimate of the July 1 total rice stock was 1.56 million m.t. short of previous month and year ago levels by 13.1 and 11.2 percent respectively. It is enough to meet the 61 days rice requirement of the country.
• Comparative estimates for same month last year showed stock drawdowns in all sectors ranging from 2.3 to 20.6 percent.
• The production shortfall in the second quarter, late arrival of the expected rice imports and intensive campaign against smuggling could have caused the significant drop in the current stock level.
• Of the total stock, about 45 percent are in the household sector while 25 and 29 percent are in the commercial and NFA depositories, respectively.

CORN STOCK

• The July 1, 2002 corn stock inventory of 134 thousand tons was 7.4 percent below from last month and significantly lower by 42.1 percent from last year’s record.
• Compared to last year’s stockholding, the major drawdown of 36.4 percent was reflected in the households and 46.5 percent in the commercial sector.
• NFA reported no corn stock for the period.