The Philippine government may lift a ceiling on rice prices in two weeks as local harvests start to come in, Trade Secretary Alfredo Pascual said.

The price cap, imposed last week, is necessary to prevent further increases in rice prices, Pascual told reporters on the sidelines of an event in Manila on Monday.

The Philippines is still in discussions with major rice exporter Vietnam for imports of the staple grain, he added.

Author: Manolo Serapio Jr.