As world faces supply glut, Philippines under pressure over high rice prices

MANILA (Reuters) - Rice prices in the Philippines have risen for six straight weeks, piling pressure on the government to import more of the national staple to stabilise markets and curb inflation already at two-year highs.

While bumper harvests in other countries have stoked a global rice glut, prices in the Philippines have climbed around 4 percent in the last three months after Typhoon Haiyan devastated key growing regions and as the government clamps down on smugglers looking to avoid hefty taxes.