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Aug 25, 2018 @ 11:30

Gov’t assured of lower price for white, red onion in two weeks

As the government moves to lift the Special Safeguard Duties (SSG) on white and red onion, stakeholders and traders assured this could pull down the cost of these commodities in two weeks time.

To be specific, the Department of Agriculture (DA) just requested the Department of Finance (DOF) and the Bureau of Customs (BoC) to lift the SSG imposed on the aforementioned commodities.

SSG is an additional duty imposed on imported agricultural products.

Agriculture Secretary Emmanuel Piñol said this move could “drastically” pull the prices of white and red onion by about P50 per kilo in two weeks time.

“The traders and importers promised,” Piñol said.

“White and red onion traders and importers pledged that in two weeks time, white onion, which is now sold at P120 per kilo, will be sold in retail stores at P55 per kilo. Red Onion, on the other hand, now sold at P100 per kilo will be sold at P65 in the retail outlets,” he added.

Piñol explained that the decision to lift the SSG was also prompted by the absence of locally produced Onions whose harvest starts January to April every year.

“The traders and importers pledged to police their ranks and their retail outlets so that the prices of Onion would go down in time for the Christmas Season,” Piñol further said.



 

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