The Department of Agriculture in the Philippines is evaluating the extension of the current suspension on onion imports beyond July, aiming to protect domestic growers from potential market price drops amid increasing production outputs. This measure seeks to prevent the influx of cheaper imported onions from negatively affecting domestic prices.
As of the beginning of July, the price for a kilogram of red onions ranged from P80 to P150 in Metro Manila markets. The country's onion supply is deemed adequate for approximately eight months, factoring in a shrinkage rate of 10% to 20%, which adjusts the actual sufficiency period to about seven to eight months. The national stockpile includes 161,973.73 metric tons of red onions and 11,569.07 metric tons of yellow onions. Onion production in the first quarter saw a 36.8% increase year-on-year, with the Philippine Statistics Authority highlighting a 40% rise in the area cultivated for onion farming. The potential importation of yellow onions is under consideration due to their relatively lower stock levels, estimated to last about 2.5 to three months.
Additionally, De Mesa noted a spike in tomato prices, attributing it to delayed harvest periods.
[ P 10 = €0.16 ]
Source: bworldonline.com