Red onion prices in Metro Manila have skyrocketed due to low supply. The Department of Agriculture (DA) attributes the price increase to factors like high demand and the end of the harvest season. The DA aims to establish a command center by March to better manage agricultural commodity data and avoid over- or under-importation.
Thin supply likely caused the spike in red onion prices, according to an official from the Department of Agriculture (DA). Retail prices of red onion s ranged from P100 to P180 per kilo in Metro Manila markets, based on the DA’s latest price monitoring report. This saw an increase from the P70 to P150 range from a month ago. Agriculture Undersecretary Cheryl Marie Natividad-Caballero said this could be affected by several factors.
“It could be because demand was high, and supply was low; and it wasn’t harvest period yet,” Caballero told the BusinessMirror on Thursday, noting that the harvest periods for onion are February to April and August to December. “The ones in cold storage may possibly be just being readied for release, since we were coming from the long holidays the past week,” she explained, speaking partly in Filipino. Data from the Bureau of Plant Industry (BPI) showed the red onion inventory as of December 27 stood at 13,043 metric tons (MT). Government officials said the country has a monthly red onion consumption of 17,000 MT. All of the country’s red onion stocks last year were locally produced owing to a bumper harvest, which prompted the agency to withhold any importation order for the crop. Meanwhile, Agriculture Assistant Secretary Arnel de Mesa said the agency will build a command center by March to serve as a national database for agricultural commodities. He noted that at a meeting DA hosted last week, Agriculture Secretary Francisco Tiu Laurel Jr. ordered regulatory agencies such as the Bureau of Fisheries and Aquatic Resources (BFAR), the Bureau of Animal Industry (BAI), and the Bureau of Plant Industry (BPI) to coordinate with the command center. “The Secretary ordered the regulatory to coordinate with the command center to ensure that for this year, the regulatory offices know the production data and when it is necessary to import,” De Mesa told reporters in a recent interview. “Timing is important, as well as the volume, and should be very predictive to avoid over- or under- importation, especially for the commodities that we have control of,” he added
Red Onion Price Hike Supply Demand Agriculture Department
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