The Department of Agriculture (DA) has set the suggested retail price (SRP) on imported red onion at P125 per kilogram (kg) in wet markets in the National Capital Region (NCR) effective tomorrow, February 8.
Kristine Evangelista, DA assistant secretary, told reporters in an interview in Quezon City the SRP was decided at last week’s meeting of stakeholders, including importers and retailers.
Evangelista said the P125 per kg SRP was arrived after taking into consideration the landing cost of imported onions of about P77 per kg as well as the average wholesalers’ price and additional costs of retailers on store spaces and manpower.
“With that, we came up with a price of P125 per kg and this was agreed upon by (the) retailers,” Evangelista said.
DA said SRP was not recommended for imported white onion which sells at a lower price.
Evangelista said the DA is also linking the value chain to further pull down prices of onions.
“…We are also linking retailers with wholesalers of imported onions as we made a cost structure for them to be well-guided… That is our way of guiding them also to be able to negotiate with their suppliers… we have identified some suppliers who are willing to sell wholesale to retailers (so they can comply with the SRP,” Evangelista added.
The DA’s monitoring of select wet markets in the NCR as of yesterday showed the retail price of local red onion ranges from P230 to P320 per kg.; imported red onions at P180 to P260 per kg; and local white onion at P120 to P250 per kg.
Meanwhile, Undersecretary Ruth Castelo of the Department of Trade and Industry (DTI) said the SRP on onions will be published separately by the DA.
For the DTI’s own SRP bulletin, Castelo said the agency is looking at the final numbers before Secretary Alfredo Pascual will make an announcement.
Castelo added Pascual will soon announce details of DTI initiatives which will limit traders’ participation between farmers and retailers.
She said the initiatives have been approved by President Ferdinand Marcos Jr.
