A shortage occurs when the demand for a good or service is greater than the amount supplied in a market.
PHILIPPINES: Rice shortage hits the poor
According to the 2006 Family Income and Expenditure Survey, the latest conducted by the country’s National Statistics Office, 68 million of the country's 90 million people live on or under $2 a day.
It was found that for every $ 2.40 in daily earning, more than a third gets spend on food, while the rest is spent on medicine, clothing, and in some cases education.
The Average retail price of rice is 72 cents (30 pesos) a kilo compare to 60 cents in 2007, and there is no sign for a stability in price. Many Filipino families suffer from starvation.
Hunger may become common in the Filipino lives as prices continue to rise this year. the average price of rice has increased by 17 cents and the Filipino families are preparing to take drastic measures.