Onion prices fall 35% after I-T raids on Nashik traders
image Source By : Google 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. "These traders have the capacity to buy 30% of total arrivals in the market. The action from the IT department...