Philippines may loosen rice import curbs

Global Business

Rice is the main staple for nearly 100 million Filipinos. So it is no surprise the whole country is up in arms over skyrocketing prices of the grain.In some cases, by as much as 20 percent. That is despite the government saying there is no shortage. The National Food Authority says consumers should expect a price increase of at least 5 percent as the so-called lean season approaches but with the assurance that this will only be temporary.

CCTV’s Barnaby Lo reports from Manila.

Philippines may loosen rice import curbs

Philippines may loosen rice import curbs

Rice is the main staple for nearly 100 million Filipinos. So it is no surprise the whole country is up in arms over skyrocketing prices of the grain.In some cases, by as much as 20 percent. That is despite the government saying there is no shortage. CCTV's Barnaby Lo reports from Manila.