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Saturday, May 4, 2024

Eye-watering onion prices drive Filipino black market

Millions of dollars’ worth of onions have been seized by authorities in the Philippines, as an inflation crisis sees eye-watering onion prices in Manila’s markets.

Up to US$11 million (350 million baht) worth of onions were impounded by officials in the Philippines last year, 30% of all smuggled farm products.

Their price soared so rapidly, that restaurants stripped them from their menus, officials warned travellers not to import them without permission and millions of pesos’ worth have reportedly been seized in raids, interfering with what supply there is. As climate change progresses, onions will be one the first commodities to shift from basic staple to highly priced luxury.

Bags have been found in warehouse raids, and hidden among shipments of clothing. According to the Guardian, last month, authorities uncovered US$300,000 worth of yellow onions inside containers…

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