Philippines ramps up efforts to curb rice inflation, ponders price controls

MANILA (Reuters): Philippine President Ferdinand Marcos on Tuesday (Aug 29) ordered authorities to double efforts to hunt down rice hoarders and take steps to curb soaring prices, while warning of a possibility that price control measures could be imposed.

The Philippines is one of the world's biggest importers of the grain and its retail rice prices climbed further this month, some varieties surging as much as 25% in some markets in and around the capital.