Corn stocks up 8.9% in January

MANILA, Philippines -  The total corn stock inventory for January was 166,100 metric tons, 8.9 percent higher than the January 2011 level of 152,500 MT.

However, when compared to the December 2011, it was 6.2 percent lower. The December 2011 figure was at 177,100 MT.

Data show that compared to December’s stock position, January’s stock level increased 8.3 percent in the households. In contrast, stocks in commercial warehouses dropped by 13.1 percent. There was no change in stocks held in the National Food Authority (NFA) depositories from December’s inventory.

Against last year’s levels, stocks in the households decreased by 18.1 percent and those in NFA depositories by 80 percent. However, stocks in commercial warehouses went up by 36.8 percent.

Of January’s total corn stocks, about 37.2 percent were with the households and 62.7 percent were with the commercial warehouses. NFA depositories accounted for only 0.1 percent of the total corn stocks inventory.

Meanwhile, the total rice stock inventory was 2.62 million MT. This was 15.2 percent lower than the December 2011, record of 3.10 million MT and 23.3 percent below last year’s inventory of 3.42 million metric tons.

January’s stock levels in all sectors were lower than December’s records. Stocks in the households were down by 22.5 percent and those in commercial warehouses by 15.1 percent. Stocks in NFA depositories, of which 57 percent were imported rice, dropped by seven percent.

Compared to last year’s inventory, household stocks were lower by 13.8 percent and those in NFA depositories by 40 percent. However, stocks in commercial warehouses grew by 9.6 percent.

As of January 1, 2012, the total volume of rice stocks would be enough for 77 days. On the other hand, household stocks would last for 29 days. Stocks in NFA depositories would be good for 30 days, while those in commercial warehouses would last for 18 days. Of the current stock level, about 37 percent were with the households, 23 percent were with the commercial warehouses and 40 percent were with the NFA depositories.