Soaring rice prices in spark consumer concerns

Soaring rice prices in spark consumer concerns

Soaring rice prices in the Philippines have sparked public discontent, stoking fears of worsening food insecurity among low-income households as rice is the primary staple food of Filipino people.

According to rice shop owners, the most commonly purchased rice variety by Manila residents currently ranges between P59 to P62 (or about $1.01 to $1.06) per kilogram. In contrast, just last September, the same rice variety was priced at P40 per kilogram (or about $0.69).

The continuous increase in rice prices in the Philippines can be attributed in part to external factors such as the El Niño phenomenon and the ban on rice exports from India. The current Philippine government had promised to provide rice to the public at the affordable price of P20 per kilogram (or about $0.34). However, the rising prices have ignited public dissatisfaction.

VIDEO BY CCTV/ REUTERS VIDEO

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