Extreme inflation is going on in the Southeast Asian country of the Philippines. Among other daily necessities in the market of the country, onion market is skyrocketing. The price of this very simple ingredient of kitchen has crossed the price tag of meat.
Currently, one kilogram of onion in the country is selling at 600 pesos, equivalent to USD 14.
In Bangladeshi currency (1 dollar = 106 taka) which is about Tk 1484, more than the price of two kg beef. Many people in the Philippines have expressed their anger over the unusual price hike of onion and started addressing it the 'new gold'.
In a video of Reuters, a newly married couple (bride April Lyca Beare and groom Nobis) was holding a huge bouquet of red onions weighing four kilograms instead of flowers. Onions were even distributed among the guests at that wedding along with vegetables, the report stated.
President Ferdinand Marcos Jr. declared the country's food shortage a state of emergency. Authorities have removed onion from the hotel-restaurant menu as the price of onion has gone out of reach. The import of onion is also prohibited in the country without the special permission of the government.
Earlier this month, an aircrew was caught at the airport carrying 40 kg of onions along with other fruits from Dubai and Riyadh. The estimated value of that onion was USD 330 or about 35 thousand taka. Besides, 50,000 kg of onions hidden in pastries and bread products were also recovered.
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