Price cap set for red onion at P170/kilo in Metro Manila
THE Department of Agriculture (DA) said it set a suggested retail price (SRP) of P170/kilogram for red onion sold in wet markets in the National Capital Region.
“We had a stakeholders’ meeting with our onion farmers, traders, retailers, and we came to the conclusion to create an SRP. We have had this approved. This will be the price of local red onions in the markets,” Agriculture Undersecretary Kristine Y. Evangelista told reporters on Monday.
As of Oct. 10, the monitored price of domestically produced red onion in wet markets has risen to as much as P200 to P220 per kilo.
“We saw through our price monitoring team (that) prices were rising. Based on our cost structure, it should be much lower… our agri-commodities should reach the right price for our consumers,” Ms. Evangelista said.
“P200 per kilogram is too expensive. Our stakeholders agreed that P170 is the right price for local red onion… we made sure this price is fair for everyone, even farmers,” she added.
Ms. Evangelista said domestic production is adequate. “That’s one of the things we looked at before recommending the SRP. We check the supply and sufficiency of our commodities. We have enough supply for local red onion,” she said.
“Based on historical data, when the holiday season comes closer, commodity prices go higher… with a clear supply situation, we can have prices that are stable until the holidays,” she added.
According to an administrative circular issued by the DA, the SRP was imposed in response to the effects of rising fuel prices in the wake of the Russia-Ukraine war as well as the continuing influence of the pandemic on commodity prices.
“In order not to aggravate the current difficulties of the Filipino people affected by the pandemic and rising fuel prices, there is a need to guide the consuming public on the reasonable prices of basic necessities in the market,” according to the order. — Luisa Maria Jacinta C. Jocson