FOOD PRICE VOLATILITY - G4

Food Price Volatility

the variation in agricultural prices over time. There are multiple causes of food price volatility including the supply and demand of crops, drought and other adverse weather conditions, and financial speculation.

natural disasters, supply chain disruptions, and global economic changes

In the Philippines, food price volatility is a significant concern. The country heavily relies on imported food, making it vulnerable to fluctuations in global markets. Factors such as ______________________________________________________________________________________________________________________ contribute to erratic food prices. This volatility can lead to challenges in ensuring food affordability and security for the population, particularly for those with limited resources.

Early 2000s

The Philippines experiences periods of high food price inflation due to factors like rising oil prices, weather-related disruptions affecting agricultural output, and global supply and demand imbalances.

2008

The global food crisis leads to a sharp increase in food prices worldwide. The Philippines, heavily reliant on rice imports, faces supply shortages and price spikes, prompting the government to take measures to stabilize rice prices.

2013

Bagyong Yolanda devastates agricultural areas, impacting rice, corn, and coconut production. This contributes to food price increases and supply disruptions.

2014

The Philippines faces the effects of the El Niño climate phenomenon, leading to drought conditions that reduce agricultural output and drive up food prices.

2020

The COVID-19 pandemic disrupts global supply chains and trade, causing fluctuations in food prices. Lockdown measures also impact transportation and distribution, affecting the availability of food.

2021

The Philippines experiences inflationary pressures, including rising food prices, driven by factors like supply chain disruptions, increased transportation costs, and adverse weather events.

National Food Authority (NFA)

Did you know that Philippines has implemented various measures to address food price volatility, such as establishing the __________________________________________________ to stabilize rice prices and ensure a steady supply for consumers?