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Philippines imports over 10,000 MT of yellow onions to stabilize prices

The Philippines has received over 10,000 metric tons (MT) of fresh yellow onions, a move aimed at augmenting the dwindling domestic stocks and maintaining stable prices in the market. According to the Bureau of Plant Industry (BPI), the country has imported a total of 10,370 MT of fresh yellow onions as of October 24, fulfilling nearly 65% of the 16,000 MT import volume sanctioned by Agriculture Secretary Francisco Tiu Laurel Jr. in August. This decision was in response to the anticipated depletion of local yellow onion stocks.

The breakdown of imports by month includes 1,173 MT in August, 5,857 MT in September, and 3,140 MT in October. The influx of these imported onions has led to stable retail prices in Metro Manila markets. The Department of Agriculture's price monitoring report indicates that imported yellow onions are priced between $1.25 and $2.50 per kilo, while prices for locally produced white onions range from $1.61 to $2.50 per kilo. Comparatively, last month, imported yellow onions were retailing between $1.61 and $2.86 per kilo, and local yellow onions were priced from $1.61 to $2.68 per kilo.

Local red onion prices have also remained stable, with no imports recorded this year due to a surplus from a bumper harvest. Current stocks of red onions in local cold storages amount to 77,675 MT, ensuring availability until the next year. As for yellow onions, the country holds 2,922 MT in stock as of October 18, with a significant portion being imported.

Source: Philstar Global

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