Philippines to import 21,060 tons of onions to stem soaring prices.

The Ministry of Agriculture has given the green light to the import of 21,060 tonnes of fresh onions (3,960 tonnes of yellow onions and 17,100 tonnes of red onions). The ministry has issued import authorizations and approved importers have until January 27, 2023 for the products to arrive in the country.

 

Some analysts believe that this surge in onion prices is the result of speculation and an agreement between a few players in the sector.

 

Some onion growers fear that this volume of imported onions will coincide with the harvest season in February and drive down the farmgate price.