Filipinos face soaring rice prices

Source: CCTV.com | 05-13-2008 10:57

Global rice prices have risen sharply this year largely due to growing demand from developing countries and poor weather in some rice-producing regions. In the Philippines, many people are concerned about how they will cope with the ever increasing cost of the grain.

Global rice prices have risen sharply this year largely  due to growing demand from developing countries and poor  weather in some rice-producing regions.

The Philippine archipelago has less land suitable for rice production than many of its Asian neighbors, and is prone to Pacific typhoons that frequently destroy rice paddies. Its rice output has failed to keep up with a growing population, which topped 88 million last year, and it is one of the world's largest rice importers.

The Philippines has been paying record prices on the international market to make up a 10 percent rice shortfall. Some Asian countries, including India and Vietnam, have curbed rice exports to guarantee their own supplies.

Editor:Du Xiaodan