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.
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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
Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe
Visit our website at https://www.manilatimes.net
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Amazon Music - https://tmt.ph/amazonmusic
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#TheManilaTimes
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NewsTranscript
00:00It affects our economy.
00:05Our rice is a bit underpriced.
00:10Unlike before, you can buy more if you want.
00:14But they won't buy it even if the price is high.
00:17It affects our economy.
00:20It's not like before, you can buy more if you want.
00:25But they won't buy it even if the price is high.
00:28It affects us a lot.
00:31Because in our business, it's free food.
00:36So we usually buy rice here in the market.
00:39But because of inflation, we usually buy fewer kilos now.
00:46Who will buy it?
00:49It will just go to waste.
01:15It has always been a promise of many politicians, but not yet fulfilled now.
01:45How do you see the future of the Philippines?
01:54We are still worried about foreign policy stability.
01:59There are still stability needs for the Philippines.
02:03Many people hope there will be less conflicts,
02:07less talk about military exercises and all these military things,
02:12more talk about investments and tourism.