DTI enforcing onions SRP

In the past few months, red onions sold for as much as P720 per kilogram in public markets despite efforts to stabilize the prices of the commodity

The Department of Trade and Industry has mobilized its price monitoring teams to ensure that the price cap imposed on red onions in Metro Manila public wet markets is properly implemented.

Circular 12 issued by the Department of Agriculture on 29 December 2022 pegged on red onions a suggested retail price of P250 per kilogram, effective for the first week of January 2023.

Trade Secretary Alfredo Pascual said in an advisory over the weekend that its teams would ensure compliance with the DA circular.

President Ferdinand Marcos Jr. last week pressed supply chain players to keep agricultural products affordable for consumers, especially during the holiday season.

“DTI is calling on sellers to keep their prices within the suggested retail prices. We are exerting every effort to ensure that prices of necessities and prime commodities are within reach of Filipino consumers,” Pascual said.

In the past few months, red onions sold for as much as P720 per kilogram in public markets despite efforts to stabilize the prices of the commodity.

According to the DA concurrently headed by the President, the high onion prices may only be temporary as retail prices are expected to decline during the peak harvest season from March to April.

Prices of red and white onions had been hitting highs of P720 and P600 per kilo, respectively, based on the latest DA’s latest price monitoring.

Muñoz Market in Quezon City and the Pamilihang Lunsod ng Muntinlupa had the lowest prices for local red onions, while the Las Piñas City Public Market had the highest prices.

The DA’s decision to impose SRP, however, would only be a “band-aid” solution to high onion prices that, however, do not translate to higher income for farmers, House Deputy Minority Leader France Castro said.

“For the short term, the government must extend support and subsidies to Filipino farmers to increase their yield and lower production costs,” said the lawmaker.

According to DA deputy spokesperson Rex Estoperez, there has been an unexpected spike in agricultural product prices during the off-season ending soon as January marks the height of the harvest.