In this study, we investigated the monthly wholesale price of papaya in Jaipur, Rajasthan. The study is based on primary data to explore the market power of papaya wholesalers and secondary data on papaya prices and arrivals at A.P.M.C. in Muhana mandi, Jaipur, for 10-years that is From 2007-08 to 2016-17. As a result, market power was measured by two of the indices, the concentration ratio (CR) and the Herfindahl-Hirshman index (HHI). The analysis found the selected markets to be significant, showing an upward trend in papaya prices range in the target markets. The results of the cyclical variation of papaya wholesale prices in Muhana Mandi showed a cycle of 4 years (2010-11 to 2014-15). Irregular fluctuations showed no particular periodicity in the repetitions in mandi selected for papaya. The Seasonal Price Index provides a measure of month-to-month variation in papaya prices. As for the price index, the seasonal index was highest in month of July and lowest in month of December at 109.89 and 89.43 respectively whereas, the arrivals index was inverse [peaked in December (170.42) and its lowest in July (61.87)] during the study period. An increase in the seasonal price index was observed in July when arrivals were low. Setting up a papaya processing unit requires an average of $ 294.67 of machinery and equipment. The average total cost of a papaya processing unit was $ 3265.39 ($ 1.04/kg). The average gross income for the papaya processing sector was $ 4013.03 ($ 1.28/kg). During the study period, the establishment of a papaya processing unit was profitable and financially feasible. NPW was positive, BCR was ≥1 in all treatment units, and PBP was also reliable. The main problems faced by sellers and processors were rising rental prices, rising transportation costs, rising electricity supply, high market charges and fees, labor shortages and raw material supply shortages.