DA sets P170/kg SRP for red onions in NCR wet markets

The Department of Agriculture (DA) on Monday released a suggested retail price for red onions in wet markets in Metro Manila, following the increase in prices of agricultural commodities.

Based on Administrative Circular 09 dated October 7, 2022, DA Senior Undersecretary Domingo Panganiban set an SRP of P170.00 per kilogram of red onions in wet markets in the National Capital Region (NCR).

“[I]n order not to aggravate the current difficulties of the Filipino people affected by the pandemic and rising fuel prices, there is a need to guide the consuming public on the reasonable prices of basic necessities in the market,” the circular read.

Latest data available from the DA show that prices of local red onion in Metro Manila markets averaged P200 per kilogram as of Friday, October 7, 2022.

Inflation clocked in at 6.9% in September, driven by prices of food and non-alcoholic beverages, which climbed by 7.4% during the month.

Both the Department of Finance (DOF) and the Philippine Statistics Authority (PSA) expect inflation to remain high in the remainder of the year due to the weak peso and the damage caused by Typhoon Karding (international name: Noru).

The agricultural sector has seen a beating from Typhoon Karding, which left over P3 billion worth of damage and losses to the sector. —Jon Viktor D. Cabuenas/KBK, GMA News