Weird Finance: Sand Futures Up in Iraq

I have always thought that things like orange juice being traded in our commodities market is kind of odd.  But take a look at the story below.

 

“In total contrast to the decline in World Markets the Baghdad Stock Exchange reports a huge rise in inward investments with dramatic gains on the Index as investors and Commodity Dealers turn to sand.

Iraq has huge reserves of sand which is constantly increased due to climatic conditions in the area.

The Iraqi Minister for Sand explained “the wind pattern is such that sand is blown into Iraq from Iran, Syria and Saudi Arabia. As a result we are confident our reserves will not diminish and could actually increase for the foreseeable future.”

 

Sand?  If you live in an area with a large amount of desert conditions, how can sand be valuable?  I guess it makes sense, though.  Here in America, the sale of dirt is a big business.  What kind of odd financial stories do you have?

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