Spot Market Update: Wheat Slumps On Fresh Supplies

New arrivals of wheat in major producing states have maintained selling in wheat market. The Agriculture Secretary SK Pattanayak said the output could touch last years record level of 98.51 million tonne (MT) owing to better yields. Last month, Agriculture Ministry in its second advance estimate, projected wheat output to be lower by 1.42 per cent to 97.11 MT in the current crop year ending June due to four per cent fall in acreage.