Noted commodity bull Jim Rogers is buying farmland. Rogers' 2004 book "Hot Commodities: How Anyone Can Invest Profitably In The World's Best Market" called for a massive run-up of commodity prices the first two decades of this century. Despite the recent setback in commodity prices, he still remains a bull and sees opportunity in owning farmland.
In a recent interview with CNBC, Rogers said: "We're still going to eat, probably; we're still going to wear clothes, probably. Farmers cannot get loans for fertilizers right now. So the supplies of everything are going to continue to be under pressure." Rogers said he is the director of two funds which are buying virgin land in Brazil and existing farms in Canada with the intention of farming the land. "If I'm right, agriculture is going to be one of the greatest industries in the next 20 years, 30 years," he said.
You can see the CNBC interview by clicking here.
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