MCX has been choosing its commodities right. It can sense where the speculative currents would be strong and which would, in turn, generate high volumes, attracting more speculators. In that, it could not have chosen a better product than jute. The golden fibre is underpinned by a robust spot market, thanks to an average annual production of 2 million tonnes and strong speculative lineage. One...

Professor V Raghunathan is a cheerful man with eclectic tastes, interests and skills. He was in the Navy before doing management and teaching at IIM, Ahmedabad, has worked with a mutual fund and a foreign bank, is now a senior member of the management team of the GMR group and has India’s most famous collection of locks. He is also a prolific writer, managing to squeeze in a popular...