Philippines - Paddy rice losses from typhoon exceed forecasts

The Philippines lost a total of 250,730 tonnes of paddy rice due to the strong typhoon that hit its northern provinces over the weekend, according to initial official estimates, exceeding a worst-case forecast by 60 per cent.

The Philippines, one of the world’s biggest rice importers, had been under pressure to boost its stocks of the grain even before Typhoon Mangkhut struck, with soaring retail prices helping to push inflation to its highest in nearly a decade.