Price of red onions drop owing to over supply

WHILE prices of many commodities including vegetables have soared, the opposite is happening to the price of onion. It has dropped by P5- P10 a kilo this week because of over supply from local producers.

Onion traders in the province decided to release the supply from cold facilities to cut expected bigger losses because of the expected entry of imported onions.

Rosendo So of the Samahang Industriya ng Agrikultura (SINAG) said 2,218,202 kilograms of red onions from the harvest last April in Bayambang, Pangasinan and Bongabong, Nueva Ecija are still in the cold storage facilities expected to last until October-November this year.

In the Bagsakan market in Urdaneta City, the price of red onions is now at P75 to P80 a kilo from P90 per kilo last week.

So said the Department of Agriculture allowed the issuance of special importation permit for the entry of imported onions last August 23.

He said this is the first time that the BPI issued permit for the entry of imported onions as early as August, because in previous years, BPI issued import permits in the month of October.

So said the imported red onions have arrived.  “Baka natakot sa pagkalugi ang mga onion traders na tamaan ng bagsak presyo kaya inilabas na ang mga nasa cold storage na pwede pa sana stock up to three and half months.

So pointed out that since local supply of white onions is low, the import of white onions is justified but not red onions.

He said the same situation exists in supply of garlic. Stock of garlic in local markets is 90% imported, not enough garlic from Ilocos provinces.  Price of imported garlic is 70 per kilo.

SINAG and the group of onion farmers and traders will meet this week to discuss impact of imported onions and garlic. (Nora Dominguez)

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