Manila: The Department of Agriculture (DA) has implemented a maximum suggested retail price (MSRP) of PHP120 per kilogram for imported red and white onions starting December 1. This decision comes as part of efforts to manage rising retail prices, despite landed costs being around PHP60/kg.

According to Philippines News Agency, DA Secretary Francisco Tiu Laurel Jr. emphasized the necessity of enforcing the price cap before the holiday season. The latest data from DA-Bantay Presyo reveals that the prevailing price of imported medium red onions in Metro Manila is currently PHP250.63/kg, while imported medium white onions are priced at PHP142.53/kg. In some markets, the peak prices of imported red onions have reached PHP300/kg.

Secretary Tiu Laurel stated that even with the PHP120 price cap, all parties involved-from importers to retailers-would still earn a reasonable profit. He stressed the importance of adhering to the MSRP, particularly given the delays in import arrivals which have led to tighter supply conditions. He remarked, "There may be some tightness in supply, but that's no excuse for runaway prices. At current market levels, it already smacks of profiteering."

Additionally, the DA plans to work with the Department of Trade and Industry to intensify monitoring efforts and hold accountable those engaged in potential profiteering. The department is also finalizing separate MSRPs for imported pork ham and belly, as well as for carrots, which are expected to be implemented within the week.