How spread betters can profit from chocolate

Chocolate's main ingredient, cocoa is getting rapidly more expensive. It's up 12% so far this year. Tim Bennett explains how to play the price rises with a spread bet.

Chocoholics watch out! Your favourite vice is getting rapidly more expensive. However, you can offset the rising price of chocolate with a spread bet. Here's how.

First off what's caused recent sharp rises in the chocolate price? The answer lies in a part of the world that sits off the radar for many investors the Ivory Coast. Political stalemate has sparked a ban on cocoa exports initiated by presidential claimant Alassane Ouattara, furious that his rival refuses to step down. And that matters, because 40% of global supplies originate there.

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Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.