Jim Rogers believes that agriculture alternative to oil for Russia

Agriculture could become an alternative to oil for the Russian economy, said the American investor Jim Rogers in the broadcast channel .

“Agriculture in Russia is on the rise, and I think that ultimately, agriculture will replace crude oil. You had your disaster, now things should go better,” said Rogers.

He added that Russian agriculture was “on the rise” after the imposition of sanctions. “Russian agriculture has to be a great industry: you have land, you have brains, you have climate, you have people. There was a time when Russian agriculture was the great agriculture. Once again it will be [so],” said the investor.

Rogers in an interview also pointed out that he began to invest in Russia only in recent years. “I was a bear in Russia for 47 years and I became a bull in the last 2-3 years, because I saw that in Russia there are some positive changes,” he said.

He said that eyeing the Russian securities, but so far nothing has added to its portfolio. “As soon as the oil found its bottom, it is possible to buy the ruble,” said Rogers. However, he found it difficult to tell when the price of oil will bottom.

Speaking about possible investments, Rogers also expressed interest in Kazakhstan, noting that he had opened an account there. “I would like to invest in North Korea but I am American,” he complained.

Jim Rogers: “I think that agriculture in Russia will replace oil” Video: Channel

In June, in an interview, Rogers said he wanted to buy more rubles.” “I’m the most optimistic person in relation to Russia”, — he noted. According to Rogers in a few years “will be removed from Russia if not all, most of the” sanctions. “Your country will be in better shape than many others, when there are crises in other parts of the world. Don’t sell rubles, and if you want to sell, let me buy them from you,” said the investor.