In this file photo, vegetable vendors arrange fresh produce in Commonwealth Market in Quezon City. —File photo by Grig C. Montegrande | INQUIRER
MANILA, Philippines — The Philippines ranks among the 50 countries most vulnerable to a surge in food prices if energy and fertilizer costs remain elevated amid the Middle East conflict and the coming El Niño develops into an extreme weather event, Nomura Global Markets Research said.
The Philippines ranked 21st out of 110 countries in Nomura’s Food Price Vulnerability Index. The index measures exposure to sharp food price increases based on nominal gross domestic product (GDP) per capita in US dollars at market exchange rates, the share of food in total household consumption, and net food imports as a percentage of GDP.
The country posted a score of 100.7 on the index, which estimated 2025 GDP per capita at $4,270. It also found that food accounted for 37.3 percent of total household spending in 2023, while net food imports were equivalent to 2.7 percent of GDP in 2024.
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