Rice prices in PH increase 17% – WB

The World Bank in a report said that the Philippines incurred a 17-percent increase in rice prices from June to October this year because of numerous cyclones and typhoons that crosses the country.

In the bank’s Food Price Watch for November 2013, the World Bank said that international food prices are declining by 6 percent but remained high because of tightening of wheat markets, weather-related concerns in some countries that “drive up” wheat prices during the five-month assessment.