[Global Times Special Correspondent Zhen Xiang] According to the U.S. news agency Bloomberg reported on the 9th, the impact of India's rice export restrictions continue to ripple through Asia and West Africa, the Philippines is now seeing a spike in the price of rice, which is further pushing up inflation in the country and putting economic pressure on the general public.

　　In August, rice inflation in the Philippines grew at the fastest rate in nearly five years. The Philippine central bank recently warned that they will resume their policy of monetary tightening if needed. Data released by the Philippine National Statistics Office (PNSO) on May 5 showed that the country's inflation rate ended a six-month slowdown in August, rebounding to 5.3 percent year-on-year.

　　"We're seeing a lot of uncertainty, with restrictions exacerbating price pressures." Shirley Mustafa, rice market analyst at the United Nations Food and Agriculture Organization, said. India's restrictions have disrupted markets and left worried countries trying to secure supplies while trying to contain rising rice costs.

　　According to a Bloomberg article titled "Philippine Rice Crisis Puts World on Alert," the security of rice supplies is now a major concern for many countries. Philippine President Marcos and Vietnamese Prime Minister Pham Minh Thanh met during the ASEAN summit and plan to reach a five-year agreement. Senegal, Singapore and other countries are negotiating with India over a rice export ban to ensure supply.

　　Southeast Asian countries such as Indonesia, Malaysia and Myanmar have also reportedly taken measures in response to rising rice prices. Malaysia imposed purchase restrictions and began inspections of wholesalers and millers following allegations that local rice was being sold as imported rice at inflated prices. Myanmar has also implemented a system of mandatory recording of rice stocks to control domestic rice prices and curb speculation.

　　Once some major rice-exporting countries implement bans, other rice-exporting countries will follow suit, and if they follow suit, rice prices will continue to rise, further impacting global inflation, according to an analysis by the International Food Policy Research Institute. Bloomberg said Asian rice prices fell slightly this week as the market gradually cooled, but prices are still close to the highest level since 2008.