As onion prices in the wholesale and retail market are slowly climbing up, income tax officials have raided premises of major onion traders in Asia’s largest onion market Lasalgaon ( Nashik) in the last couple of days. Wholesale onion price at Lasalgaon is touching ₹5,000 per quintal as quality onion supply has declined and experts predict a further rise in the price. Any rise and fall in price at Lasalgaon has a spiralling impact on onion prices across the markets in India. Traders have threatened to continue to boycott on auctions if IT action continues. They say that the government’s “tactics” to pressurise them will boomerang and disturb the onion supply. Maharashtra has a 33 per cent share in India’s onion production; 80-90 per cent of the onion that comes to the Lasalgaon market is of export quality.

Courtesyg: Google (photo)