Tuesday, March 28, 2023

DTI Vows To Continue Monitoring Onion Despite Declining Prices


DTI Vows To Continue Monitoring Onion Despite Declining Prices

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The Department of Trade and Industry (DTI) has vowed to continue helping the Department of Agriculture (DA) in monitoring the prices of onion in the markets even as the price of the commodity continue to decline.

DTI Undersecretary Ruth Castelo made the statement during the Laging Handa public briefing as both DTI and DA on Monday confirmed that the new suggested retail price (SRP) of red onion will be at PHP125 per kilogram.

DTI Assistant Secretary Kristine Evangelista said the new SRP will be implemented starting Feb. 8.

“So iyong PHP125 ngayon ng Department of Agriculture, we will monitor again, imo-monitor natin ulit kung saan-saan siya makikita para rin masabi natin sa consumers kung saan sila dapat bumili (So the PHP125 (SRP) of the Department of Agriculture, we will monitor again, and we will monitor where consumers can buy them),” Castelo said.

Based on DTI’s market monitoring on Monday, she said the highest price of red onion is around PHP300 to PHP350 per kilogram.

One of the leading supermarket chains is also selling red onion at PHP180 per kilogram, she added.

Meanwhile, Castelo said the agency will soon release the new SRP for basic goods.

“We have seen justifications from the manufacturers why they have to increase at so much,” she said.

Castelo said the current SRP of basic commodities should still be based on the August 2022 list, and there should be no movement on the SRP until the new bulletin will be issued. (PNA)

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