DA sets P120/kg SRP for onions to curb price surges

The Department of Agriculture (DA) has set a suggested retail price (SRP) of P120 per kilogram for both red and white onions, effective December 1, to curb price surges driven by increased holiday demand.

Agriculture Secretary Francisco Tiu Laurel Jr. stated that the P120 price cap allows for fair profits throughout the supply chain, considering imported onions cost approximately P60 per kilo.

The DA noted that retail prices had escalated to as high as P300 per kilo, with some reaching nearly P400, a situation Secretary Laurel described as potential profiteering despite a minor supply tightness due to import delays.

Retailers, while reportedly supporting the price cap, requested that their supply cost be around P90 per kilo and that the SRP be implemented only upon the arrival of new shipments to prevent losses on existing, higher-priced stocks.

Additionally, the DA has extended the rice import moratorium until December 31 to stabilize palay prices and protect local farmers.