Rice Prices Set To Soar: Here Are The ETF Plays (DBA, JJA, RJA)

Rice prices could double to $1,000 per metric ton as bad weather in India, the world's largest rice importer, and the Philippines, the largest exporter, cripple harvests.

Analysts expect rice supplies to be tighter in 2009 than in 2008 and some forecasters believe the price could touch $2,000 per metric ton by the middle of 2010.

Unfortunately, there isn't a pure ETF play on rice available to U.S. investors, but investors may want to check out the ELEMENTS Rogers International Commodity Agri ETN (NYSE: RJA), the iPath DJ AIG Agriculture TR Sub-Index ETN (NYSE: JJA) and the PowerShares DB Agriculture ETF (NYSE: DBA).

All three hold agriculture futures contracts, though rice isn't a top holding in any of these offerings. Still, some exposure to rice given the potential for dramatic price increases is better than none at all.