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.
“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.
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.
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.