With money sucked out of the market, there was a tomato glut, and prices crashed by 80%. “A 15-kg crate of tomatoes traded this year between Rs 30 and Rs 50 (instead of Rs 700 at its peak),” said Kumar. This is the worst we have seen in my experience.”Kolar is the biggest vegetable-growing region in Karnataka, and houses Asia’s second-largest tomato market. Onions were traded anywhere between Rs 650 and Rs 1,500 per quintal in November 2016, compared to Rs 3,027 to Rs 5,600 in 2015. “Most of the transactions in fruits and vegetables are in cash,” Brajendra Singh, director, National Horticulture Board, told IndiaSpend.

Source: Hindustan Times January 18, 2017 05:23 UTC