Moody's: Phl highly exposed to food security risks

Food security risks will likely remain elevated in Asia-Pacific even if prices of food ease this year, with the Philippines among the most exposed to shocks and risks in the region, Moody’s Investors Service said.

- KEISHA TA-ASAN

The debt watcher said in a report different economies have varying risk exposure and resilience to food shocks in the Asia Pacific (APAC) region.

“Countries that exhibit both higher exposure to shocks and lower resilience are mainly in South Asia, (Bangladesh, Pakistan and Sri Lanka), the Pacific Islands (Solomon Islands) and Southeast Asia (Philippines and Laos),” it said. 

According to Moody’s, food security risks will remain elevated this year amid frequent and severe climate shocks that will disrupt food production processes, including the impact of El Niño on crop production.