Singapore is a business hub, a hi-tech city with swanky buildings and clean roads. And there's hardly any agriculture in the State, is the general impression.

But surprisingly it is in Singapore that the largest number of agri-funds get floated. So when the whole world is worried about rising foodgrain prices, several investment funds have found it an opportunity to float agri-funds in Singapore.

Some of those hot funds include BNP Paribas Agriculture Fund, Barclays Global Agriculture Delta Fund, Citrine Agriculture Booster Notes and Castlestone Aliquot Agriculture Fund, according to a report in Commodity Online.

Why is it that Singapore is suddenly the hub for agri-funds? Whom should the answer come from, other than Jim Rogers, the commodities investing legend, who is now settled in Singapore.

“Equity market is down. And companies in Asia based in Singapore are looking to countries like China and India and launching agri-funds to tap the Asian potential,” said the billionaire investor. Agriculture is the 'most promising area of the commodities sector', and the 'bull run could last for 10 years', claimed Rogers.

One-third of Singapore is farmland

A mere 10 km drive in the outskirts of the city to the Malaysia border will bring the city dweller to the rolling fields.

“One third of Singapore is farmland. There are several hectares of organic farming there,” explained the expert.