CHINESEFARMERsmall.JPGFirst it was Chinese equities, then oil and mining shares, now agricultural commodities. Corn, wheat and soya are the latest China “plays” according to the Daily Telegraph, as their prices have failed to benefit from the broader China-inspired commodities boom.

With the inevitable self-interest that permeates these “boom” stories, the Telegraph interviews a clutch of commodity brokers and sell-side firms who argue, plausibly, that you should get down to the futures exchange now before the Chinese corner the market in a broad range of agricultural commodities.

The argument runs that the country is fast running out of home-grown food to fatten the animals and fish which are needed to feed a Chinese population that is no longer happy to subsist on rice.

Commodity tycoon Jim Rogers, a former partner to the world's favourite capitalist George Soros, tells the British daily that sugar is poised to explode as more Chinese discover their sweet tooth.

Perhaps, he's right. However, Sweet China, a UK-listed company set up to play this “sweet tooth” story, is still looking for suitable investments in the Chinese confectionary sector 9 months after floating on London's AIM market. Prior to rising ahead of its recent suspension pending an announcement of a possible deal, Sweet China's share price had halved since since flotation. China Wonder, another AIM-quoted sweet tooth play has also performed dismally, losing 66% in the past 12 months.

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