Long-depressed commodity prices are set to finally head higher for two key reasons, Marc Faber, the publisher of the Gloom, Boom & Doom report, told CNBC.
It all boiled down to the need for infrastructure, said Faber, who is also known as Dr. Doom for his usually pessimistic views.
"The need for infrastructure in Asia is huge. They have to build roads. You go to Jakarta, Manila, the infrastructure is a catastrophe," he told CNBC's "Street Signs," adding that to accommodate tourists, Asian countries needed to build airports and railways. "You cannot ship that many people by airplanes. There's no space."
The second reason commodity prices were set to rise was because developed markets were also set to boost their spending, he said.