Philippines: After spiking in onion prices, garlic is next, now at $7.26 per kg

Published Feb 22, 2023

Tridge summary

The Philippines is facing a garlic crisis, with prices soaring to more than double the cost of chicken and two-thirds of the capital's minimum wage, due to a supply shortage and hoarding. The government is cracking down on hoarders and smugglers, and has found large quantities of illegally imported onions and garlic. The country's declining garlic production and logistical challenges are exacerbated by increased exports from China. Meanwhile, lawmaker Jose “Joey” Salceda has raised concerns about food insecurity due to rising corn prices, which are driving up costs for fish and livestock feeds, and could impact wages and savings.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Manila: Following a huge spike in onion prices in the Philippines, a similar problem is now affecting another important produce — this time, it's garlic. The herb witnessed a significant surge in retail price. Locally-grown and harvested bulbs now fetch up to Php400 ($7.26) per kg. That’s more than double the price of chicken, and two-thirds of the daily minimum wage in the capital. The average wholesale garlic price in the world market is $1.16 per kg (about Php64 per kg) as of January 29, 2023. To curb hoarding — a practice that keeps prices artificially high — the government has started a massive crackdown, raiding several warehouses that yielded tonnes of garlic. In general, a garlic crisis can occur when there is a shortage of garlic supply — causing prices to increase dramatically. So far Disruptions in the supply chain or trade restrictions could potentially lead to a shortage and subsequent price increase. In recent weeks, however, hoarders and profiteers had also been ...

Source: Gulfnews