Onions are selling in the Philippines for as much as 600 pesos -- the equivalent of $11
Red and white onions were selling for as much as 600 Philippine pesos per kilogram on Monday, compared to 220 pesos per kilogram for chicken, according to the country’s Department of Agriculture. Even beef brisket is 30% cheaper than onions by weight as the price of a kilogram of the allium has soared higher than the daily minimum wage.
“Smuggling adversely affects the economy not just in terms of revenue loss for the government because of uncollected tariffs and duties. Smuggling also destroys the market dynamics of local products,” he said in a Tuesday statement. “We need strong enforcement of existing laws to effectively address this issue and protect local producers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business News - Latest Headlines on CNN Business | CNN BusinessView the latest business news about the world’s top companies, and explore articles on global markets, finance, tech, and the innovations driving us forward.
Read more »
Bernard Kalb, founding CNN 'Reliable Sources' anchor, dies at 100 | CNN BusinessBernard Kalb, the long-time journalist and founding anchor of CNN’s “Reliable Sources” program, died on Sunday at his home in North Bethesda, Maryland, his family said. He was 100.
Read more »
LinkedIn is having a moment thanks to a wave of layoffs | CNN BusinessIn a normal year at this time, a typical LinkedIn feed might be full of posts about year-end reflections on leadership and professional goals and suggested lifehacks for the year ahead — possibly with a few posts from CMOs offering tips on brand strategy, for good measure.
Read more »
Emmanuel Macron presses ahead with pension reform as French discontent swells | CNN BusinessFrench President Emmanuel Macron's government will attempt to revive his economic reform drive and score a major political victory this week with a launch of the pension system's overhaul in the face of vehement trade union opposition.
Read more »
Has inflation finally peaked? | CNN BusinessIt may be a new year. But for investors, consumers and the Federal Reserve, inflation remains a major economic concern, just as it was in 2022.
Read more »
Ram unveils electric pickup truck concept with three rows of seats | CNN BusinessStellantis's Ram truck brand is behind its competitors on launching an electric pickup, with trucks from major rivals already on the market or coming soon.
Read more »