Manila: The Department of Agriculture (DA) announced Friday that it will set a maximum suggested retail price (MSRP) for imported red onions beginning December 1, amid concerns over market profiteering.

According to Philippines News Agency, DA Secretary Francisco Tiu Laurel highlighted that retail prices for imported red onions have been unusually high, despite a 'reasonable' landed cost. He stated that considering the import cost of around PHP60 per kilogram, red onions should not be sold above PHP120. Laurel emphasized that current prices of PHP250 to PHP300 per kilogram are clear indicators of profiteering.

The DA plans to issue the MSRP by Monday and will implement stricter monitoring and supply tracing to identify sources of inflated prices, especially as the holiday season approaches. As of November 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 urged the public not to tolerate unreasonable prices in local markets and to report those who are exploiting the situation. He encouraged consumers to avoid purchasing overpriced onions, to complain, and to negotiate prices, insisting that the current pricing is unjust.