Prices of onions have more than quadrupled in about four months, contributing to food inflation. Read more at straitstimes.com.
MANILA - Philippine President Ferdinand Marcos Jr has cleared the importation of up to 21,060 tonnes of onions, an agriculture official said on Tuesday, as the governmentPrices of onions, widely used in many local dishes, have more than quadrupled in about four months, contributing to double-digit food inflation seen in December.
Retail prices of the more widely-consumed red onions skyrocketed to as high as 700 pesos per kg in recent days in Manila markets, among the highest in the world, according to some economists. Philippine central bank governor Felipe Medalla on Tuesday signalled further interest rates hikes this year to bring inflation back within a target range of 2 to 4 per cent.
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Philippines mulls more onion imports amid inflation fearsMANILA : The Philippines is looking into importing onions for immediate delivery to boost a tight supply and bring down exorbitant prices that have contributed to 14-year-high inflation, an agriculture official said on Monday.Retail prices of red onions has skyrocketed to as high as 700 pesos ($12.70) per
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Philippines plans to import 22,000 tonnes of onions after price surgeOne kilogramme of onions now costs about three times the price of chicken and is around 25 per cent costlier than beef. Read more at straitstimes.com.
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Philippines central bank chief sees inflation closer to 3% in late 2023, 2024MANILA : Philippine inflation is likely to be closer to 3 per cent in late-2023 and in 2024, central bank governor Felipe Medalla said on Tuesday.Medalla, speaking at a media forum, also said the economy remained strong and that pent-up domestic demand will continue driving growth.
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Philippines November trade deficit at $3.7 billionMANILA : The Philippines recorded a trade deficit of $3.7 billion for November, despite a decline in the value of imports and a rise in exports, government data showed on Tuesday.Imports declined 1.9 per cent from a year earlier to $10.8 billion, the first monthly drop since January 2021 and the lowest mo
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India considers lifting rice export curbs as supply improvesAny relaxation of the export curbs will likely cool benchmark prices in Asia. Read more at straitstimes.com.
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