The Department of Agriculture (DA) has deferred the extension of the P250 suggested retail price imposed on onions. The Presidential Communications Office (PCO) stated: "The DA has deferred the extension of the P250 suggested retail price (SRP) due to the forecasted lower price range of onions following the harvest season. According to the DA, onion prices may decrease to P100 to P150 per kilo with the entry of more than 5,000 metric tons (MT) of imported onions.”
In December of last year, the DA put the suggested retail price of red onions per kilo in the wet markets in the National Capital Region (NCR) at P250.
The announcement was made through an administrative circular, "which shall take effect for the remaining days of December 2022 until the first week of January 2023, subject to another stakeholders’ consultation.”
The circular, signed by DA Undersecretary Domingo Panganiban, stated that the implementing rules and regulations (IRR) of RA No. 7581 empowers and directs the agency, as an implementing agency, to issue an SRP for "any or all basic necessities and prime commodities under its jurisdiction for the information and guidance of producers, retailers, and consumers."
Some are hoping that the DA's pronouncement that the price of onions will go down to P80 per kilo will soon happen.
[ P1 = €0.0.17 ]
Source: gmanetwork.com