Post
Topic
Board Economics
Re: The Taste of an Economic Downturn
by
Lucius
on 01/01/2023, 14:04:32 UTC
Where do you live and what kind of giant secret recipe golden plated onions are those?

I also wonder where the price of onions is so high, and I guess it could be somewhere in Asia considering that the price for the Philippines (September 2022) shows $6.74 per kilo. It seems that for some reason the price of red onions in the Philippines is skyrocketing, and whether it's because they didn't produce enough or they have import problems is still unknown.

Onion price in the Philippines has become the most expensive in the world, based on a global price monitoring website. 
In Metro Manila, a kilo of red onions costs around P280 to P300 based on the latest monitoring of the Department of Agriculture. 
This is more than three folds higher than the global average price of $1.51 (P85.14), based on Global Product Prices. ($1= P56.39; Figures from Google exchange rate)
A kilo of red onions is also more expensive than a kilo of chicken priced at P190. 



As far as food is concerned and red onions specifically, I have my own that I produced last year, and for about $3-4 dollars of seed I produce enough for my needs throughout the year. There is no doubt that food has become more expensive, this was definitely seen this year during the shopping for the holidays, because I paid for everything from 20% to over 100% more than a year ago.