PCC probes onion cartels | Inquirer News
PRICE SURGE

PCC probes onion cartels

/ 05:05 AM February 28, 2023

MANILA, Philippines — The Philippine Competition Commission (PCC) on Monday said it was looking to finish its investigation on the possible cartel involvement in the recent price surge of red onions within two to three months, despite challenges in going after these potential criminals.

“The challenge, of course, is when you talk about cartels or anticompetitive agreements like this, it’s quite difficult to prove because you’re looking at having to prove an agreement actually exists among major players and usually you won’t find something like that in writing,” PCC Chair Michael Aguinaldo told a press conference.

Article continues after this advertisement

“But if the evidence is there, and I believe we are able to find evidence, then it should be done within the next two to three months,” he said further.

FEATURED STORIES

The PCC official said they were also coordinating with different government agencies to make sure there would be no duplication of functions.

To recall, the PCC said earlier this month that they began an investigation back in November of 2022, around the same time that clamor for a probe of the skyrocketing prices of the agricultural commodity was at its height.

Article continues after this advertisement

The antitrust body also issued a stiff warning in the form of penalties and jail time on those found guilty of the crime.

Citing the Philippine Competition Act, the commission said that businesses that will be found to have taken advantage of the situation may be fined up to P100 million, and even face jail time of up to seven years.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Onion prices, onion supply

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.