In the Philippines, the availability of onions is expected to keep prices stable, with sufficient stocks to last into the early part of next year. As of June 21, the country's inventory of red onions and shallots stood at 161,973.73 metric tons, enough to meet the national daily demand of 585.52 metric tons for 276 days. This stock, entirely from local production after a halt in imports, is projected to suffice until March 25, 2025. The Agriculture Secretary, Francisco Tiu Laurel Jr., has extended the import ban on onions until the end of the current month.
The supply of fresh yellow onions, amounting to 11,569.07 metric tons, is expected to last for two more months, or until September 8. Combining the stocks of red and yellow onions and shallots, the country has a total supply for 237 days, or until February 13 of the next year. The Philippine Chamber of Agriculture and Food Inc. (PCAFI) suggests further extension of the red onion import ban, citing sufficient supplies until the next harvest season, which begins in February and peaks in March. PCAFI emphasizes the stable retail prices for onions, with red onions priced between P80 and P150 per kilogram and yellow onions between P60 and P120 per kilogram in Metro Manila markets.
The Department of Agriculture's anticipation of a significant onion harvest in the first half, driven by expanded farming areas and high prices from the previous year, has contributed to the current stock levels. The country's strategy to limit imports in favor of local production has previously led to high retail prices, but now aims to stabilize the market with ample local supplies.
[ P 10 = €0.16 ]
Source: philstar.com