The Filipino government is appealing to traders to refrain from hoarding red onions as this can lead to an artificial shortage, with higher onion prices. Agriculture Assistant Secretary Rex Estoperez also said the government would be forced to import onions if traders will not release their stocks. Estoperez said the government does not want to see another spike in onion retail prices, similar to what happened in December last year, when red onions were sold for as much as P720 per kilo.
“We will not allow that [P720 per kilo of onions] to happen. Last time, the traders promised to release their inventory but it did not happen and even caused the delay in the importation.”
He also said the government would have to allow the importation of white onions because of the increasing demand for it among restaurants and institutional buyers.
[ P10 = €0.16 ]
Source: businessmirror.com.ph