RENOWNED commodities bull Jim Rogers says he sees higher returns from agriculture than other commodities, and has predicted more international turmoil as food prices continue to rise.

Speaking in Sydney yesterday, Mr Rogers said the commodities bull market that started in 1999 had a long way to run, mainly because of a generally lacklustre supply response.

“Agriculture prices are still, on a historic basis, extremely depressed, and in my view I’ll probably make more money in agriculture than other things,” the 68-year-old Singapore-based investor and author told The Australian yesterday.

But Mr Rogers, who started the Quantum hedge fund with George Soros before retiring 31 years ago, said he was surprised food inflation was already contributing to unrest in countries such as Tunisia and Egypt.

“I fully expect more social unrest in the world, I fully expect more turmoil, but I didn’t expect it to happen this quickly because food prices are somewhat depressed,” he said. “It will slow growth but some people are going to benefit — Brazil’s booming, Canada’s booming, Australia’s booming, you’re going to see some people benefit and some people suffer, that’s the way the world works.”

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