Agaricus bisporus strains, S11 and U3 were grown on four set of compost formulations made from wheat straw (WS) and paddy straw (PS) to show minimum spawn run period with WS+PS (50:50) formulation.  Number of fruit bodies (726-2468/qlts compost) and their average weight (9.2 g-14.0 g) was higher in U3 in all the substrate formulations as compared to S11. The strain U3 gave yield potentials of 22.83 and 23.70 kg/qlts compost, with WS+PS (50:50 and 25:75) respectively as compared to 26.49 kg/qlts WS compost which were statistically at par with WS alone. This suggested partial replacement of wheat straw with paddy straw for mushroom cultivation to reduce production cost. Mushrooms being highly perishable product require preservation techniques for good market price. Mushrooms were blanched and steeped in six different solutions comprising of potassium metabisulfite (KMS), citric acid, sucrose and sodium chloride (NaCl) for one month at room temperature (24±2ÚC) to extend the shelf life. The steeping solution III (0.2% KMS+0.2% citric acid+6% sucrose+3% NaCl) proved better for U3 strain while steeping solution V (0.2% KMS+0.2% citric acid+6% sucrose+3% NaCl) was effective for S11 strain. Carbohydrate, protein and fat analysis indicated effectiveness of steeping solutions in maintaining nutritional quality of mushrooms.