Food prices doubled this year - page 24.

GDragon

full member

Activity: 658

Merit: 126

Quote from: Janation on September 22, 2020, 11:36:08 PM

Quote from: Peanutswar on September 22, 2020, 10:06:22 PM

In Philippines there is nothing change with the price of the foods still at the same because they know what are the situation right now of the people, they don't have enough capability to buy different foods if they increase the amount of price of their product, also in our country they are not prepared yet and not fully recover form this covid 19 but some of the business are still on going but some of them are already filed bankruptcy. The most problem of the people right now where is to find a source of income to fulfill the needs of their family. I think soon they will increase the price of the food just to make recovery to our economy.

It may look the same but it is scarced.

Scarcity will lead to increasing of prices especially to those people with increasing cases. My family in the province are having a hard time to buy rice, some people can't afford rice with high price but they don't have a choice because NFA is scarce since it is used for the help the government but still not being given and I am still wondering when are they planning to distribute them.

Some got back to normal price but in my local markets, meat's price is still not going down, I've know cause I always crave meat lol. It's understandable cause everything is connected, because of the pandemic, supplier is charging high maybe to get back what they lost during the months of lockdown. The cost of transporting from the province changed too. Scarcity is a cause too, that's maybe some products are higher and some are already stable in price.

shamimal93

member

Activity: 966

Merit: 11

FRX: Ferocious Alpha

Quote from: smartcontracts100 on September 16, 2020, 05:11:30 AM

When i have time i go to local market to check prices

Vegetable prices doubled
Fruit prices doubled
Meat prices around 30% increase
Grain products around 20% increase
...

And my country is a exporter of food products

How is it in your country ? Same ?

----------------------

My country is Romania

https://www.bloomberg.com/news/articles/2020-04-10/food-supply-fears-are-growing-as-romania-bans-grain-exports

We tried to ban exports of grain ,but stupid EU intervened...

Ever since the problem of this pandemic started, the prices of all kinds of products have skyrocketed. The price of one product has gone up by almost 100% to 200%. The most interesting thing is that the price of onion has gone up by 500% in my country. I don't know when this pandemic problem will end and when the market will be stable.

shield132

hero member

Activity: 2352

Merit: 905

Metawin.com - Truly the best casino ever

Quote from: smartcontracts100 on September 16, 2020, 05:11:30 AM

When i have time i go to local market to check prices

Vegetable prices doubled
Fruit prices doubled
Meat prices around 30% increase
Grain products around 20% increase
...

And my country is a exporter of food products

How is it in your country ? Same ?

----------------------

My country is Romania

https://www.bloomberg.com/news/articles/2020-04-10/food-supply-fears-are-growing-as-romania-bans-grain-exports

We tried to ban exports of grain ,but stupid EU intervened...

Happens the same in my country and guess what's even worse here? National currency losts it's value a lot and USD is getting stronger and stronger here while around the world people complain how bad USD will end up becuse of money printing and etc. Paradox, right? And this country is importer of almost everything. Prices are really doubled, snickers/cola become more expensive. Not only that but basic foods are very expensive right now and at the same official amount time min necessary money has declined in this situation.

mdgabrielzim

full member

Activity: 1232

Merit: 143

I live in Brazil and we are one of the biggest meat and grain exporters. However, since the beginning of the pandemic, prices have continued to rise and, with the devaluation of the REAL (brl), many producers prefer to export their production rather than sell it domestically. For you to have an example of how bad it is, the minimum daily rate for a worker is 34 reais a day, 1 package of 5kg of rice is costing 35 to 40 reais.

Findingnemo

hero member

Activity: 2366

Merit: 793

Bitcoin = Financial freedom

Quote from: oHnK on September 23, 2020, 12:52:51 PM

Quote from: Findingnemo on September 22, 2020, 11:20:57 PM

Have you heard the term Inflation before? It simple means more money has been printed every year while adds more in the circulating supply as a result of this the purchasing power of your money is going down every year.

I dont think so. Inflation occurs when there is too much money in supply than the goods. The reason for the current increase in food prices is not the government's printing of money. In my country, there is no money printing policy, but food prices have increased by a few percent, although not double. This is because the availability of foodstuffs cannot fulfill the needs of the entire society so that it increases.

So basically your country is not printing any money? I guess this can't be true.Every country prints money but if it is printed in very less percentage then it may do some good stuffs but no country is having such strong economy now.

If there is high demand for food products in your country and your money didn't lose the purchasing power then your country can simply import food products from other countries so people can get for cheaper prices.

Lorence.xD

sr. member

Activity: 1624

Merit: 315

Leading Crypto Sports Betting & Casino Platform

Quote from: oHnK on September 23, 2020, 12:52:51 PM

Quote from: Findingnemo on September 22, 2020, 11:20:57 PM

Have you heard the term Inflation before? It simple means more money has been printed every year while adds more in the circulating supply as a result of this the purchasing power of your money is going down every year.

I dont think so. Inflation occurs when there is too much money in supply than the goods. The reason for the current increase in food prices is not the government's printing of money. In my country, there is no money printing policy, but food prices have increased by a few percent, although not double. This is because the availability of foodstuffs cannot fulfill the needs of the entire society so that it increases.

This is not just a simple inflation, there are factors involved such as cost of production, cost of transport and the organic farming. Many farmers are slowly converting to a more organic ways of farming where the usage of less toxic yet more efficient pesticides are used that means the prices will go up. Same for meat, slowly converting to organic cattle farms makes a better harvest but the cost of production is increased and the land used to prevent overcrowding of farm animals contributes to the increase of prices. Transport cost varies depending on distance from source to market, so far, it is the easiest problem that can be solved in regards to increase in the price of produce and meat.

Mpamaegbu

legendary

Activity: 2716

Merit: 1225

Once a man, twice a child!

This is a classical case of one having the flu and the nose dripping liquid. These two go hand in hand.

What do we expect when manpower was drastically cut down in huge number within a few months? Of course, productivity will be affected and that is what has led to food shortage with the adverse consequence being demand higher than supply. Invariably, this always results to inflation. We also have this inflation in my country, and it cuts across countries. The world is in a financial jeopardy and I sincerely hope we don't have the 2008 global financial kind of meltdown again.

Restmand

sr. member

Activity: 979

Merit: 258

Quote from: smartcontracts100 on September 16, 2020, 05:11:30 AM

When i have time i go to local market to check prices

Vegetable prices doubled
Fruit prices doubled
Meat prices around 30% increase
Grain products around 20% increase
...

And my country is a exporter of food products

How is it in your country ? Same ?

----------------------

My country is Romania

https://www.bloomberg.com/news/articles/2020-04-10/food-supply-fears-are-growing-as-romania-bans-grain-exports

We tried to ban exports of grain ,but stupid EU intervened...

In our place here in one province of the Philippines, price decreasse due to the hard lock down of some places where no transportation allowed to enter and lots of products especially meat, vegetables etc. are on stocks. Meat is very cheap and some give it almost free. I myself have piggery and in order to survive the business I grill my own pigs and sold them to neighbors in cheap price.

oHnK

hero member

Activity: 1414

Merit: 574

Quote from: Findingnemo on September 22, 2020, 11:20:57 PM

Have you heard the term Inflation before? It simple means more money has been printed every year while adds more in the circulating supply as a result of this the purchasing power of your money is going down every year.

I dont think so. Inflation occurs when there is too much money in supply than the goods. The reason for the current increase in food prices is not the government's printing of money. In my country, there is no money printing policy, but food prices have increased by a few percent, although not double. This is because the availability of foodstuffs cannot fulfill the needs of the entire society so that it increases.

Raflesia

hero member

Activity: 2282

Merit: 560

_""""Duelbits""""_

Quote from: Wawa2013 on September 23, 2020, 02:40:11 AM

Actually, the food prices have not increased significantly in my country, but due to the impact of COVID19 which caused many people
to lose their jobs, that is what makes many people unable to buy food. Fortunately the government in my country is moving fast enough,
by providing a lot of assistance to people affected by COVID19. Although some assistance was uneven and not well targeted, but I must
give appreciation to the government's efforts. Hopefully a vaccine can be found soon, so the world economy can return to normal.

With their lack of work, they are still helpless, government assistance is not enough for one month, while the food needs are very much, the government must be able to provide good policies for its people, I know that with this assistance it can minimize hunger people will continue to rebellion will occur because of unemployment the more it will result in more criminals.
I don't know how long Covid-19 will disappear, I want my area to be at ease with normal norms returning to normal.

gabbie2010

sr. member

Activity: 2842

Merit: 326

Vave.com - Crypto Casino

Quote from: Sapphire915 on September 16, 2020, 09:38:47 PM

This is actually what we are experiencing here in my country at this strange time. Inflation rate on food products rose higher recently to about 5-8%. Its really sad to know that a lot of people couldn't afford to buy foods now because of being jobless and they were running out of money from their pocket. That is why you can see a lot of starving people anywhere and poverty become more worst.

I thought it was in country only that is experiencing hike in food stuffs not knowing that it cut across many countries, joblessness and unemployment means shortfall in pushing power in that country, how come the hike in the price of food stuffs? when only few people are buying, Covid-19 had really devastated many productive economy, in my country the agricultural sector was hard hit during the lock down and also flooding of farm products due to heavy downpour this has also caused a lot of havoc on the economy.

laycon

member

Activity: 154

Merit: 10

It seems no country is left untouched economically as a result of this Pandemic. Despite the fact we have high population of farmers in my country, we are still faced with inflated prices of food commodities. Weather ain't helping also.

abhiseshakana

legendary

Activity: 2254

Merit: 2253

From Zero to 2 times Self-Made Legendary

Quote from: Findingnemo on September 22, 2020, 11:20:57 PM

Have you heard the term Inflation before? It simple means more money has been printed every year while adds more in the circulating supply as a result of this the purchasing power of your money is going down every year.

According to the Keynesian theory, printing money will cause inflation. But according to Michael Hudson, an expert on Modern Monetary Theory (MMT), money printing does not always end in inflation as long as money printing is not used to pump demand through direct cash assistance, but money is printed to increase production or money is printed based on layered projects such as in China. The project itself should be independent, free from imported raw materials, free from foreign workers, and must be in the manufacturing industry sector, not in the service or trading sector.

The goal is a rotating economy, when the industry moves, purchasing power will be maintained, economic growth will occur and people's welfare will increase. So at times like this, the government of each industrial sector country can absorb a lot of labor so that it can boost domestic consumption figures and support the national economy when the global supply chain has not returned to normal, due to the pandemic which has hampered the export-import process.

Wawa2013

sr. member

Activity: 1666

Merit: 268

Actually, the food prices have not increased significantly in my country, but due to the impact of COVID19 which caused many people
to lose their jobs, that is what makes many people unable to buy food. Fortunately the government in my country is moving fast enough,
by providing a lot of assistance to people affected by COVID19. Although some assistance was uneven and not well targeted, but I must
give appreciation to the government's efforts. Hopefully a vaccine can be found soon, so the world economy can return to normal.

The cure

jr. member

Activity: 448

Merit: 4

In my country there is no increase in basic needs, we're glad that our government here is closely monitoring it. Because most of us are struggling due to pandemic that's why we need to be more economical in buying things. I hope they don't become exploitative in this situation, there are already starving especially in areas far from the city and it will only get worse if they increase the price especially on food.

Janation

hero member

Activity: 1722

Merit: 528

Quote from: Peanutswar on September 22, 2020, 10:06:22 PM

In Philippines there is nothing change with the price of the foods still at the same because they know what are the situation right now of the people, they don't have enough capability to buy different foods if they increase the amount of price of their product, also in our country they are not prepared yet and not fully recover form this covid 19 but some of the business are still on going but some of them are already filed bankruptcy. The most problem of the people right now where is to find a source of income to fulfill the needs of their family. I think soon they will increase the price of the food just to make recovery to our economy.

It may look the same but it is scarced.

Scarcity will lead to increasing of prices especially to those people with increasing cases. My family in the province are having a hard time to buy rice, some people can't afford rice with high price but they don't have a choice because NFA is scarce since it is used for the help the government but still not being given and I am still wondering when are they planning to distribute them.

Findingnemo

hero member

Activity: 2366

Merit: 793

Bitcoin = Financial freedom

Quote from: Bezobraznike on September 22, 2020, 02:02:10 PM

Quote from: Findingnemo on September 22, 2020, 09:03:57 AM

Prices are supposed to increased due to no production at all for months but not for every product we buy it means they are getting oversold or our money value is getting lesser a lot since the pandemic hit us because government is printing more money to tackle the condition as short term solution.

Findingnemo I am not sure I understand you here, but we spend more money on food every year! In my +40 years I can say
that many prices went up, and in the future I think we will more increase of the prices. It's what happening for decades and trend
will continue. We can blame the pandemic for this year, but whom to blame for all the decades before this year that led to this year?
I think we need a fast solution or this world will face with huge food problems! Problems with supply of quality food, and problems
with people who will not be able to afford food because of the high price.

So you need to understand how the value of money comes from!

Have you heard the term Inflation before? It simple means more money has been printed every year while adds more in the circulating supply as a result of this the purchasing power of your money is going down every year.

Government and banking system is printing money based on no criteria in 21st century that is one of the reason why we are shouting that we need something decentralied like bitcoin as payment mode.

Salauddin1994

member

Activity: 868

Merit: 15

The global economy has collapsed as a result of the long lockdown caused by the outbreak of coronavirus around the world the whole world seems to have stopped suddenly countless people have lost their jobs due to the economic downturn. Among them the price of food items has doubled and the middle class is the most affected are unable to buy with double the money due to financial problems lost everything the government is taking this step to improve the country's economy.

Peanutswar

legendary

Activity: 1708

Merit: 1280

Top Crypto Casino

In Philippines there is nothing change with the price of the foods still at the same because they know what are the situation right now of the people, they don't have enough capability to buy different foods if they increase the amount of price of their product, also in our country they are not prepared yet and not fully recover form this covid 19 but some of the business are still on going but some of them are already filed bankruptcy. The most problem of the people right now where is to find a source of income to fulfill the needs of their family. I think soon they will increase the price of the food just to make recovery to our economy.

risatrakib

hero member

Activity: 823

Merit: 500

SquidCoin.cash

I am from Bangladesh . Here is almost same condition during Covid19 like your country . Vegetables price up almost 70% , Fruit price up about 40% , Meat price 30%, Onion price was gone 200% up last month but now almost 30% , Grain products around 10% , Spices up almost 50% . So i can say Covid19 affected the local market very badly.

Topic: Food prices doubled this year - page 24. (Read 6761 times)