The Department of Agriculture in the Philippines is exploring options to extend the current suspension on onion imports beyond July, aiming to bolster opportunities for local growers amidst increasing production yields. This proactive stance seeks to maintain stable market prices by preventing an influx of cheaper imported onions that could otherwise impact domestic agricultural sectors.
As of early July, the price range of red onions in Metro Manila markets was reported between P80 to P150 per kilogram, reflecting stable market conditions. The country's robust onion supply, including 161,973.73 metric tons of red onions and 11,569.07 metric tons of yellow onions, ensures ample stock for approximately seven to eight months, factoring in conservative shrinkage rates. Notably, first-quarter onion production surged by 36.8% year-on-year, complemented by a 40% increase in cultivated farming areas, as highlighted by the Philippine Statistics Authority.
Considering the market dynamics, authorities are also evaluating the potential importation of yellow onions to supplement current stock levels, which are projected to last about 2.5 to three months. Additionally, Agriculture Secretary De Mesa noted an uptick in tomato prices, attributing this trend to delayed harvest periods, which underscores ongoing market adjustments and opportunities for strategic trade decisions.
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