Philippines cuts rice tariffs to ensure food security, fight inflation

Filipinos gather along Roxas Boulevard in Metro Manila, the Philippines. The Philippines’ economy is struggling to gain momentum as elevated numbers of Covid cases hamper reopening efforts and destroy jobs.- Bloomberg

MANILA, May 16 (Reuters): Philippines President Rodrigo Duterte reduced the tariff for imported rice on Saturday (May 15) to ensure food security and protect consumers in the world's biggest importer of the grain.

The Southeast Asian nation, which is battling elevated inflation, took into consideration the increase in global rice prices and uncertainties in local rice supply, the president's office said in a statement.