Spot Market Update: Wheat Stable At Previous Levels

Not much buying was seen in wheat market due to little demand by millers. The latest report of Ministry of Agriculture reported a 2.5-per cent deficit as compared to last year. As against an area of around 304 lh sown in 2017-18, the area under wheat cultivation is around 296 lh, mainly on the account of decline in sowing acreage in Maharashtra and Gujarat, as well as West Bengal. The spot prices in Delhi are quoting at Rs 2100 per quintal today.