THE DEPARTMENT of Agriculture (DA) has set the maximum suggested retail price (MSRP) for red onions to P150 per kilogram (kg) starting Thursday, December 11, following reports of slightly higher import prices and an increase in landed cost from P60 to P80 per kg.
Agriculture Secretary Francisco Tiu Laurel Jr. said importers reported price hikes in major sources such as China, Poland, and India, prompting the adjustment from the recently imposed P120 per kg limit.
“There’s a slight spike, but if we are to compute, the P120 will no longer be enough, which we have set, so now, we will adjust the MSRP — probably effective tomorrow — from P120 to P150,” he said in an ambush interview on Dec. 10.
The agency had earlier imposed a P120 per kg MSRP for red and white onions on Dec. 1.
The agriculture chief said importers have expressed their willingness to adjust their wholesale prices as the country nears the holiday season.
“That’s our discussion with importers, if we increase the MSRP, then they will lower their selling price and convince the retailers to lower the prices of red onions from its current levels,” Tiu Laurel said.
The MSRP for white onions, meanwhile, will remain at PHP120 per kg. (PNA)
