The Department of Agriculture (DA) announced Friday that it will set a maximum suggested retail price (MSRP) for imported red onions beginning Dec. 1, amid concerns over market profiteering.
DA Secretary Francisco Tiu Laurel said retail prices for imported red onions have been unusually high, despite a “reasonable” landed cost.
“Considering the import cost of around PHP60 per kilogram, red onions should not be sold above PHP120,” Tiu Laurel said in an ambush interview. “Selling at PHP250 to PHP300 is clearly profiteering.”
The DA plans to issue the MSRP by Monday and will conduct stricter monitoring and supply tracing to identify the sources of inflated prices, especially as the holiday season approaches.
As of Nov. 26, imported red onions were selling between PHP200 and PHP300 per kilogram, with a prevailing price of PHP240, while local onions were priced between PHP250 and PHP330.
The agency is also exploring penalties under the Price Act, in coordination with the Department of Trade and Industry.
Tiu Laurel, meanwhile, urged the public not to tolerate unreasonable prices in local markets and help flag those who are taking advantage.
“Huwag niyong bilhin, magreklamo kayo, tawaran niyo kasi hindi tama iyon (Don’t buy it, complain, and haggle because it’s not the right price),” he said. (PNA)
