I have seen some people pushing agriculture as a theme recently, buying farms, thinking its an inflation hedge or something like that. It's the most basic of basic industries, manual labour and energy are two of the main input costs. So without profitable fixed price long term supply contracts to food brand companies or a significant structural cost advantage, such as being the largest producer in a country, its not a very good business.
As this blog makes plain.
As an example, there is a pretty good interview with William Chase about how he went from a bankrupt potato farmer with a commoditised, low margin product to a successful Potato Chip producer with the premium Tyrrells brand.
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