Agriculture is one of the great places to be – Jim Rogers on Bloomberg UTV in India

by Dave

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Jim speaking at an event – “Investment strategies in an emerging financial lanscape”. Funny to see the Indian interviewer’s (probably an MBA!) WTF reaction to Jim’s comments on agriculture. In trying to sell the attractiveness of the farming business in South America to potential investors, I’ve found the going rough in India. People cannot imagine farming as a lucractive proposition, like it is in South America. No Indian middle class family would want their kids to get into farming. Heck, even Indian farmers – almost half of whom want to quit farming, don’t want their kids to be farmers! Farming and agribusiness gets a bum rap in India, because it is a disastrous business there – afflicted with a nexus of misdirected subsidies, price support, import and export controls, collapse of extension services, absence of an agricultural land market and pervasive corrupt bureaucratic intervention across the entire range of the rural economy, as Dr. Rajiv Kumar of ICRIER so eloquently states.

One of the CEOs of an Indian agrochemical company shared a story with me last month. One of his employees approached him asking for his help in finding a job for the employee’s 25 year old nephew back in the village. When the CEO asked what the son was doing, the employee replied “Nothing” The CEO said “How can he be doing nothing, he is 25 years old?” The employee replied, “He is dabbling in farming, that is like doing nothing!”

YouTube – Jim Rogers on Bloomberg UTV.

Agriculture in my view, is one of the best places to be in the next 30 Years , I mean all these people getting MBAs are making terrible mistakes as far as I’m concerned , they should be getting farming degrees.

Agriculture has been a disaster for 30 years…Agricultural products are gonna be the best investments over the next several years. I think farming…agriculture is gonna be one of the best industries in the world. Like I said, all people who got MBAs made a mistake, they should have been getting agriculture degree.