MANILA, Philippines — The Department of Agriculture (DA) is inclined to lower the suggested retail price (SRP) of onions to P125.
DA deputy spokesperson Rex Estoperez said this in light of the arrival of imported onions and the anticipated peak of the onion harvest season.
In a radio interview, Estoperez said that to ensure retail prices would go down, the department is considering setting a suggested retail price of P125 a kilo. He said markets would also be closely monitored.
However, he admitted that there is a possibility the market may not comply with the SRP.
“Opo, P125, ang problema po namin ngayon, may P125 tayo na SRP — yan ba ay susundin naman?” he said when pressed to clarify if the DA is planning to impose an SRP.
(Yes, it’s at P125, but our problem is, while we impose a P125 SRP, would the market comply?)
At the height of the supply shortfall, the price of onion skyrocketed to as high as P700 per kilo in some parts of the country.
To stem the price increase, the country resorted to importation of onions despite the start of the harvest season.
The DA has approved the importation of 21,000 metric tons of onions, the first shipment of which has already arrived.
https://business.inquirer.net/382518/onions-sold-at-p700-in-markets-bought-for-at-least-p8-per-kilo-from-farmers-agriculturist
DA is thrilled to see the harvest season of onions to stabilize prices
https://business.inquirer.net/381651/da-authorizes-onion-importation