Bubble Trouble?

Across the world the cost of basic commodities is soaring. Endless demand from China is blamed for the record price of copper; flood, fire and drought for boosting the cost of food; and political tension in the Middle East for the sharply-rising price of oil. But are such fundamental forces the whole story?

Michael Robinson asks whether investors and speculators are making prices more volatile and examines the role of the giant traders, banks and companies which now increasingly dominate the world's commodity markets.

Episode One
Michael explains some of the surprising effects high commodity prices are having on the ground - a surge of copper theft from railways in the UK, a boom in farm prices in America, and confusion in Europe from a major chocolatier about the price of cocoa - all points to the role of new, speculative money disrupting long-established patterns in the market.