MANILA, Dec. 1 -- The Department of Agriculture (DA) has set a maximum suggested retail price (MSRP) of PHP120 per kilogram for imported red and white onions starting Dec. 1.

This came after as retail prices continued to climb despite low landed costs of around PHP60/kg.

DA Secretary Francisco Tiu Laurel Jr. told the Philippine News Agency that the cap must take effect ahead of the holiday season.

As of Monday, the prevailing price of imported medium red onions in Metro Manila is pegged at PHP250.63/kg, while imported medium white onions are at PHP142.53/ kg, according to the DA-Bantay Presyo (price watch).

Peak prices of imported red onions, however, have hit PHP300/kg price levels in some markets.

"At PHP120, everyone -- from impor...