Currently, a pound of red onions costs the Philippines more than a pound of meat. This is a problem because vegetable is often used in Filipino cuisine.
According to media sources, a number of factors, including the Russia-Ukraine war, supply chain problems, and dramatic climate change, are pushing up food costs globally as a result of global inflation.
The agricultural department's examination of market prices in Manila as of January 9 revealed that red and white onions can sometimes be purchased for as much as 600 pesos (Rs 887) per kilogram.
According to market monitoring data, the price is between 25 and 50 percent more costly than pork or beef and nearly three times as expensive as chicken, as per the reports. The price of one kilogram of onions exceeds the daily minimum wage in the Philippines.
In a briefing on January 5, National Statistician Dennis Mapa stated that consumer price inflation in the Philippines hit an all-time high of 8.1% in December, with onions contributing 0.3% of the rise.
The Philippines' agriculture officials said that the country will have to resort to importing more than 22,000 tonnes of onions by March in order to boost falling domestic supply and avert price rises. Reports claimed that the nation's average monthly demand for the crop is close to 17,000 metric tonnes.
On December 30, Bongbong Marcos, the president of the Philippines, gave the trade department the order to set an onion "suggested retail price" of 250 pesos (Rs 369) per kilogram. Onions are still pricey even with the price restriction.
The source said that smuggled white onions worth $309,000 (Rs 2.5 crore) were hidden in packages claiming to contain clothing, while illegal red onions from China worth an estimated $362,000 (Rs 2.9 crore) were disguised by boxes of bread and pastries.
