IT raids on Nashik onion traders: Prices expected to fall

The operation would continue for two to three days.

Pune, September 15: The Income Tax department on Thursday raided as many as 25 premises of seven major onion traders in Lasalgaon and surrounding areas in Nashik district, one of the largest onion markets in the country.

A senior IT official from the Pune region said as many as 120 officials from the department's Nashik unit were involved in the ongoing search and survey operation. The operation would continue for two to three days.

"We received a specific information that the onion traders of Lasalgaon and adjoining towns are involved in hoarding of onions and planning to create an artificial scarcity in the market to inflate the prices in future," he said.

The official added that as per the input, the traders had been purchasing onions from the farmers since the prices were plummeting.

The officer further said that to verify any such unaccounted stock of purchase, as many as 25 premises, including houses, offices and warehouses, of seven big onion traders are being searched and surveyed across Nashik district.

PTI