The Philippines has extended its ban on onion imports until July to avoid a surplus following record local production levels, as announced by Agriculture Secretary Francisco Tiu Laurel Jr.
The decision was made due to overflowing cold storage and a stable market, with onion prices expected to remain steady or decrease.
This year, red onion prices in Metro Manila range from P70 to P160 per kilogram, significantly lower than last year’s high of P200 per kilogram.
The country’s first-quarter onion production hit an unprecedented 201,000 metric tons, with projections suggesting a total of 370,000 metric tons by mid-year, surpassing the annual requirement of 270,000 to 300,000 metric tons.
This record output and stable prices have eliminated the immediate need for imports.
Source: PhilNews24 | May 21, 2024
