A farmers’ group has stated that it projects prices of local onions to further decrease next month, as supply is seen to be enough until September. Samahang Industriya ng Agrikultura (SINAG) Chairman Rosendo So: “We see a lesser price this coming March for the white onion and the red onion will also go down this coming March.”
So noted that the farmgate price of a kilogram of red onions is seen to decline from the current ₱150 to ₱60 by next month, while a kilo of white onions is seen to decline from ₱50 to ₱35.
Last month, the government approved the importation of onions to address the spike in prices, which even exceeded ₱700 per kilogram, due to supply issues. The Department of Agriculture (DA) set the suggested retail price of imported onions at ₱125 per kilogram in Metro Manila markets to address the issue of overpricing.
[ ₱100 = €1.70 ]
Source: cnnphilippines.com