NASHIK: The average wholesale onion price fell by 35% at the country's largest wholesale onion market at the Lasalgaon Agriculture Produce Market Committee (APMC) on Thursday after the income tax department carried out surveys and searches in the offices, godowns and homes of seven onion traders in Nashik district of Maharashtra . After the sudden crash in wholesale onion prices, farmers stopped the auction at Lasalgaon and did not sell their produce.The average wholesale onion prices on Thursday declined by 35% to Rs 900 per quintal at Lasalgaon as against Rs 1,400 per quintal on Wednesday. The minimum and maximum wholesale prices were recorded at Rs 500 and Rs 1,331 per quintal, respectively.Jaydatta Holkar, chairman, Lasalgaon APMC told TOI that two of the seven traders, who were raided, are from Lasalgaon. The action from the IT department created panic among onion traders leading to a crash of prices in the wholesale onion prices," he added.According to Holkar, some of the farmers who could not digest the fact that the prices have crashed in wholesale onion prices, stopped onion auction and refused to sell their produce at such a low price. But the wholesale onion prices started declining after a two-member committee from the Union ministry of consumers affair had visited Lasalgaon on August 18 to check fluctuation in wholesale onion prices.Last week, the Union ministry of agriculture had sought details pertaining to arrivals and wholesale prices from the Nashik district administration.

Source: Times of India September 15, 2017 00:11 UTC