Ajit Karn
Listen the Article:-
Agriculture officials in the Philippines announced this weekend that the country would have to import about 22,000 tonnes of the crop by March to augment declining domestic supply and halt growing prices as a result of the recent spike in onion prices.
In this Southeast Asian country, onions and garlic are often used as a foundation for a wide variety of recipes.
The country consumes over 17,000 metric tonnes per month on average of this veggie.
But as of Monday, January 9th, according to the agriculture department’s monitoring of Manila area market prices, red and white onions in the Philippines were offered for as much as 600 pesos ($10.88) per kilogramme, or approximately $5 per pound.
According to the same estimates from market watchers, that’s nearly three times as expensive as chicken and 25%-50% more expensive than hog or beef.
In the Philippines, one kilogramme of onions costs more than one day’s minimum salary.
The question is, why has there been a spike in cost?
Lawmakers in the Philippines are looking into the matter, claiming that President Ferdinand Marcos Jr., who doubles as agriculture secretary, is “personally liable” for the increase.
This price increase is at least partially due to external factors.
Inflation on a global scale, brought on by factors such as the conflict between Russia and Ukraine, disruptions in the food supply chain, and unusually severe weather, is placing upward pressure on food costs around the world.
Also read:- https://republicaeon.com/the-indian-premier-league-2023-timetable-date-and-tv-broadcasters-are-all-shown-here/
The price of onions in the Philippines has skyrocketed with local red onions costing as much as 550 Philippine pesos per kg, or $4.50 per pound — that's more than a pound of beef. https://t.co/WKTEBlNT1I
— WLRN Public Media (@WLRN) January 13, 2023
TYPHOON NEWS: "It's like gold": Onions now cost more than meat in the Philippines – NPR https://t.co/jeqv9UZmRB
— PHILIPPINE ALERTS (@PHILAlerts) January 11, 2023
