Onion price cap set this MondayMANILA, Philippines — The Department of Agriculture (DA) will implement a P150 per kilo suggested retail price (SRP) for red onions and P140 for white onions starting Monday to address the spike in prices of the bulbs. He said that during consultation, the operators of cold storage, brokers, traders, retailers and farmers all agreed that there is enough supply of onions as the warehouses are still full. We need to bring down the retail price by next week to remove the pressure to import as importation will be the last resource,” Cainglet added. He noted that it would be up to the BPI to process the possible importation of 8,000 metric tons of white onions as agreed during a hearing in Congress. Cainglet said they also found during the meeting that cold storage operators released limited volumes of the bulbs or sell to wholesalers at higher prices.
