India, April 15 -- A steep fall in wholesale onion prices has pushed farmers in Nashik into distress, forcing many to sell below cost while others hold back their produce in the hope of a rebound.

More than five lakh growers in the district, Maharashtra's largest onion-producing region, have been affected as prices fall across 17 APMCs, including Asia's biggest onion market at Lasalgaon, where wholesale rates are hovering between Rs.800 and Rs.1,000 per quintal.

Sachin Kumbharkar, a farmer from Patoda village in Yeola tehsil, had taken a loan of Rs.2 lakh to cultivate rabi onions on 11 acres, expecting reasonable returns. Instead, he is now staring at significant losses.

"Earlier this month, I sold 30 quintals at the Lasalgaon APMC at ...