The Philippines’ antitrust body announced it would look into the alleged cold storage cartel in the onion industry, which had reportedly forced onion farmers to cut the prices of their produce by half.
In a statement on Friday, March 29, the Philippine Competition Commission (PCC) stated the move was prompted by competition issues raised by the Department of Agriculture (DA).
The issue involves four major trading firms in Nueva Ecija, which Agriculture Secretary Emmanuel Piñol said had closed down their cold storage facilities in time for the harvest season to force farmers to sell their produce at low prices.
“The PCC will look into the alleged refusal of storage access to onion farmers in favor of large traders and will also evaluate if there are business agreements that are anticompetitive or enablers of cartelistic behavior,” the antitrust body stated.
Full Content: Inquirer
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