大象传媒

Global food prices could reach record levels this year. In the last few years the cost of basic commodities like corn and sugar has been a headache not just for consumers, but also for governments, as spiralling prices have provoked protests worldwide. Some believe they were the spark for the recent Arab Spring.

But what's driving this inflation? Is it greater demand from a growing population, especially in Asia, supply problems with droughts, or floods and other climate hazards reducing crop yields? Or is it speculators, who stand accused of manipulating prices on the futures markets; where what's being bought isn't the actual food, but the right to buy a quantity of corn or cocoa a couple of years ahead. Paul Moss investigates why the futures market exists. And Philippa Thomas chairs a heated discussion between campaigning journalist Frederick Kaufman, who wrote the book 'Bet the Farm', and highly successful investor Jim Rogers, author of 'Hot Commodities'.