A month since the central government enacted changes to the Essential Commodities Act, to waive off the stringent norms of stock limits, Income Tax officials have raided the premises of nine onion traders in Nashik. The raids began on Wednesday and are still ongoing.
Wholesale onion prices at Lasalagaon’s onion market have crossed the Rs 4,800/- per quintal mark earlier this week with the supply of quality onion deeply hit. The steady rise in onion prices since the last few months have seen the government clamping down on exports. The raids, traders say, is another attempt to influence the prices in the mandis.
Heavy rains had destroyed the onion crop in Karnataka, which is said to be the reason for the present hike in prices. At present the onions held in storages in Maharashtra are the ones feeding the market
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines