The Philippines is set to import 25,000 metric tons of yellow onions due to decreasing inventories, as indicated by the Department of Agriculture (DA). Agriculture Secretary Francisco Tiu Laurel Jr. affirmed that imports could commence by August, following projections of stock depletion by next month.
Laurel stated, "[The importation will be allowed on] August or September [for] 25,000 MT." Current data from the Bureau of Plant Industry (BPI) show that the yellow onion inventory in the Philippines was 9,822 MT as of June 20. With a consumption rate of approximately 4,300 MT per month, yellow onion stocks are estimated to last through August 26. Despite expectations of producing an additional 80 MT by the end of June, the stock is projected to last only until August 27.
In another development, Secretary Laurel mentioned that red onion imports would be greenlighted by October. BPI data revealed that red onion reserves were at 77,914 MT, sufficient until October 31, with the daily consumption rate. The expected harvest until June 30 is projected at about 2,086 MT of red onions, extending supplies to November 4.
Back in February, the DA sanctioned the import of 4,000 MT of red and yellow onions to address an anticipated shortfall in domestic supply. Current retail price reports show local red onions priced at $2.12 to $2.65 per kilo, while local white onions range between $1.50 and $2.65 per kilo in Metro Manila markets.
Source: Business Mirror
