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Philippines Suspends Onion Imports Until May to Stabilize Prices

Philippines Suspends Onion Imports
Philippines Suspends Onion Imports

The Philippines has temporarily suspended the importation of onions until May to address the ongoing oversupply issue that has led to a significant drop in onion prices. Agriculture Secretary Francisco Tiu Laurel Jr. ordered the suspension in an effort to prevent further depression of onion prices caused by the surplus in supply.

Background

According to GMA News Network, the oversupply of onions in the Philippines has led to a sharp decline in farm gate prices, with rates falling between P50 and P70 per kilogram. The situation is expect to worsen as more onions are harvest in February. In some areas, such as Nueva Ecija, which accounts for 97% of onion production in Luzon, farm gate prices have plummeted to as low as P20 per kilogram.

Measures Taken

Philippines Suspends Onion Imports | Photo Credits to the Rightful Owner

Agriculture Secretary Laurel convened a meeting with representatives from the Philippine Chamber of Agriculture and Food Inc. (PCAFI) to discuss the surge in domestic onion supply. The oversupply issue is attribute to the fresh harvest and the arrival of additional imported onion supply in December. As a result, the decision to temporarily suspend onion imports was made to stabilize prices and prevent further financial strain on local onion farmers.

Conclusion

The temporary suspension of onion imports in the Philippines until May is a response to the oversupply crisis that has severely impacted onion prices and local farmers. By taking this measure, the government aims to stabilize prices and protect the interests of onion producers in the country. This decision highlights the efforts of the agricultural authorities to manage market dynamics and ensure the sustainability of the onion industry.

Read Also: PAGASA Issues Warning of Drought in 17 Philippine Provinces Post-January

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