Red onion prices soar to over P700 per kilo

Metro Manila, December 29 ------ The prices of red onions continue to shoot up as it reached up to P720 per kilo, or seven times more expensive than half a year ago, data from the Department of Agriculture (DA) showed.

Based on DA’s latest monitoring of Metro Manila markets, the per-kilo prices of local red onions now range from P500 to P720 — a substantial jump from just the day before, when the higher end of the price range was around P500. Local white onions meanwhile are currently sold at P600 per kilo. A month ago, onions made headlines after per-kilo prices hit P300. Six months ago, it was at around P100.

The persistent price hikes have continued even after the DA said earlier this month that it was working to address the problem. In a media briefing, DA deputy spokesman Rex Estoperez said there has been an unusual increase in prices of the agricultural product as it is “off season,” but he added that the department sees it may soon become cheaper due to the peak harvest season in January. The DA also recently said it would not import the commodity for the remainder of the year since supply is expected to increase. Meanwhile, Agriculture Senior Undersecretary Domingo Panganiban earlier said they have discovered that smugglers are keeping stocks in warehouses.

A week ago, the Bureau of Customs confiscated smuggled red onions with an estimated value of P20 million in a port in Misamis Oriental. A few weeks before that, authorities intercepted some P30 million-worth of smuggled yellow onions.

Source: cnnphilippines.com