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THE PHILIPPINE Competitors Fee (PCC) has been trying into the chance {that a} cartel has been behind the current spike in onion costs.

“Since November 2022, the PCC has been investigating the excessive costs of onion for potential cartel or abuse of dominance conduct, in keeping with the probe prompted by Home Speaker Rep. Martin G. Romualdez and Home Decision No. 681 filed by Rep. Stella A. Quimbo,” the competitors watchdog mentioned in a press release.

The PCC mentioned it launched a market evaluation after observing an “uncommon excessive vary” of onion retail costs, which peaked at P600 per kilogram (/kg) in December final yr.   

“As costs are seen to stabilize because of the imports and the SRP1 set final Feb. 6, the PCC is trying into the reason for such market anomaly in coordination with the sector regulators and different legislation enforcement companies,” it mentioned.

Legislators and agriculture trade stakeholders have raised concern over the surge in onion costs, citing importation points, value manipulation and smuggling.

The PCC warned that companies discovered to have taken benefit of the state of affairs could face fines of as much as P100 million and jail time of as much as seven years.

It famous that fines for violators might be tripled if the commerce of fundamental requirements, together with agricultural objects lined by the Worth Act, are discovered to have violated cartel or abuse of dominance.   

Earlier this month, the Division of Agriculture (DA) set a steered retail value (SRP) of P125/kg for imported crimson onions offered in Metro Manila following consultations with agricultural stakeholders.   

In January, the DA authorised the importation of 21,060 metric tons (MT) of onions to mitigate surging retail costs. This consists of 17,100 MT of crimson onions and three,960 MT of yellow onions.   

As of Feb. 15, DA value monitoring knowledge confirmed the retail value of native crimson onion in Metro Manila markets ranges from P180 to P300 per kilo. Medium-sized imported crimson onions are priced from P100 to P125 per kilo, whereas huge crimson onions are priced at P110 to P180/kg.   

The retail value of native white onion ranges between P100 and P180 per kilo. Costs of medium-sized white onions vary from P140-P250 per kilo, whereas huge ones are between P120 and P180 per kilo. — R.M.D.Ochave

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