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Income Tax raids onion traders in Nashik as wholesale prices soar

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.

Written by Partha Biswas | Pune | October 15, 2020 8:46:20 am
essential commodities act, essential commodities act explained, what is essential commodities act, what is an essential commodity, parliament essential commodities act, indian expressOnions at a storage facility. (Express Photo: Shashi Ghosh)

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

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