Agriculture will be the biggest industry to profit from in the coming decades, well-known investor Jim Rogers told CNBC.
“The fundamentals get better and better for agriculture. We have a shortage of farmers developing, much less of everything else,” Rogers said in a live interview. “Demand goes up, inventories go down, it’s the perfect storm.”
Rogers, one of the biggest bulls during this decade's commodities rally, also said he would steer clear of buying gold for now, although he predicted prices will continue to go up over the long term.
“Gold is going to go much higher over the next decade or so,” he said. “I’m not selling any gold, I wouldn’t buy it, I don’t like to buy anything at an all time high, but don’t sell your gold, it’s going to be much higher in ten years.”
But gold is not the only commodity Rogers is bullish on.
Fear of inflation and the fundamentals will push most commodities higher, but stocks will suffer, he said.
“I’m not buying stock, because everybody says that everything is ok, the world is great, don’t worry, but I know in my mind, there are problems still to come, I know inflation is coming,” said Rogers. “I mean, look at gold, gold is going through the roof, look at sugar, sugar is going through the roof, these are places that are going to do well because people are printing money.”