Philippines discusses soaring rice prices
Updated
Philippine President Gloria Arroyo has convened a food summit with top officials and farm experts, to help the country cope with soaring rice prises.
The Philippines is a major rice importer and has been one of the countries hardest hit by the increase in rice prices, which are at near record highs
The agriculture secretary, Arthur Yap, says the meeting was aimed at unifying initiatives to guarantee food security.
He concedes there's growing concern across the nation about the dramatic price increase but says the government has the capacity to import up to 2.7 million tonnes this year
The Philipine government is also investigating allegations of hoarding as well as the illegal sale of government-subsidised rice at nearly double the recommended price.
