Onion imports OKd to halt price spikes

AGRICULTURE Secretary Francisco Tiu Laurel Jr. confirmed on Thursday that he had authorized the importation of a total of 4,000 metric tons (MT) of onions to avert possible price spikes.

“This importation of 3,000 metric tons of red onions and 1,000 metric tons of white onions is intended to ensure we have sufficient buffer stocks while we await the fresh harvest,” he said.

“We will not risk a potential shortage that unscrupulous traders could exploit to drive up prices, as we saw in the past. We do not want a repeat of the 2022 crisis,” the Department of Agriculture chief said.

In 2022, the price of onions reached a record high of P700 per kilo due to a supply shortage, aggravated by a delay in importations.

Data from the Bureau of Plant Industry (BPI) showed that the country consumes 17,000 MT of red onions and 4,000 MT of white onions monthly.

Red onion stocks were at 8,500 MT while white onion stocks were at 1,628 MT as of mid-January, BPI data showed. The current red onion inventory is expected to last until February, when the harvest season starts.

BPI Director Glenn Panganiban said that “while we were assured during our consultative meetings that there is still ample supply of onions, BPI recommended minimal imports to prevent major price spikes.”

“Also, due to the typhoons that hit late last year and prevalence of pests and disease, this importation is meant to be a buffer for possible supply gaps. This move is a preemptive measure.”

The imported onions are expected to arrive within the next two weeks.