According to an official from the Department of Agriculture, a Filipino crime syndicate might be hoarding red onions, as the prices for this product will most certainly stay high in the weeks ahead of Christmas. DA spokesperson Rex Estoperez said he received information that some onions were bought way below the cost of production during the harvest season and have not yet been released in public markets.
Authorities are checking cold storage facilities for hoarded supplies, he said, adding: “The prices are not moving even though we are encouraging those hiding red onions to release them. In some markets, there is a slight price movement, but this is too small.”
Asked if a syndicate could be hoarding red onions, he said: “That's right.” Estoperez said monitoring teams would visit Nueva Ecija province to check possible off-season harvests that could increase the red onion supply, which he said is already enough until the end of the year.
Source: news.abs-cbn.com