Manila, Feb. 24 -- The Food and Terminal Inc. (FTI) will buy onions to prevent a farmgate price collapse as harvest season nears its peak, the Department of Agriculture (DA) said on Tuesday.

Agriculture Secretary Francisco Tiu Laurel Jr. said the move serves as a "preemptive strike" against the usual harvest season price slump.

In a statement, Tiu Laurel said a team has already been dispatched to Nueva Ecija, the country's onion capital, to "lock in" cold storage capacity.

"They've secured space for 50,000 28-kilogram bags, and we can expand that if needed," he said.

Aside from Nueva Ecija, Tiu Laurel said FTI is also looking at other onion producing provinces such as Occidental Mindoro, Pangasinan and Cagayan Valley "to support farm ...