Steadier Tone

August 12, 1967 THE distress selling in groundnut and groundnut oil on July 28 did mark the end of the declining trend which had been in progress for quite some time and had brought down the spot quotation for groundnut oil from around Rs 45 to Rs 30 per 10 kg within just two months. The market displayed a distinctly steadier tendency last week. Prices, which had already staged a brisk recovery from their panicky low in the previous week itself, hardened further. Groundnut Bombay bold which had been sold down to Rs 140 a quintal on July 28 was marked up to Rs 176 last week. Groundnut oil improved to Rs 37.50, but later it receded to around Rs 36. Castor futures held firm between Rs 137 and Rs 138 and castor oil (Commercial) was steadier around Rs 27.75.