Beginning today, the Department of Agriculture (DA) will implement a P120 per kilo suggested retail price (SRP) for both red and white onions to rein in holiday-season price surges that have pushed retail costs to unusually high levels.
Agriculture Secretary Francisco P. Tiu Laurel Jr. said the price ceiling is intended to stabilize a market distorted by tight supply and aggressive markups. While recent delays in onion imports have slightly reduced available stock, he stressed that the situation does not justify the steep price spikes observed in Metro Manila and key provincial markets, where Agribusiness and Marketing Assistance Service (AMAS) monitoring showed retail prices climbing as high as P300 per kilo.
No excuse for spike
“There may be some tightness in supply, but that’s no excuse for runaway prices. At current market levels, it already smacks of profiteering,” Tiu Laurel said.
The DA noted that imported onions land in the Philippines at roughly P60 per kilo, meaning the P120 SRP still provides enough margin for importers, logistics players, and retailers. AMAS director Junibert E. De Sagun added that retailers were generally open to the SRP during consultations, provided that supply is delivered to them at about P90 per kilo.
“At P120, everyone — from importers to logistics providers to retailers — still earns a decent profit,” Tiu Laurel noted.