Since August in my country, the price of food, especially food staples such as wheat, rice and others, has experienced a very high price increase. This was apparently caused by the ongoing drought. Which makes several areas of plantations and rice fields fail to harvest due to lack of availability of water to water the plants. And this makes food stocks in the market start to run low from time to time. And yes, the price hike ensued. Rice prices here have even increased by around 9-10 percent in the last month in my area. And I'm afraid the increase will continue. Because many residents are starting to talk that if the drought continues longer then it is feared that the increase will occur higher and faster.
I think we are from the same country, indeed prices are increasing and indeed because supplies in the market are running low but not because the goods are not there but because of the actions of speculators who hoard for their profit when prices rise higher they will sell them, maybe you still remember the case of vegetable oil where entrepreneurs and speculators create panic by making it rare to be on the market so that people start thinking about buying in large quantities because they are worried that it will be increasingly difficult to get it.
For farmers, it can be said that currently they are getting big profits because they can sell agricultural products at high prices. but for ordinary citizens who do not have agricultural land, the current food prices really make them tight.
This is not entirely true, farmers are actually increasingly disadvantaged due to this extreme climate change because they cannot start farming because of drought, and crop failure makes them lose income, and if they can harvest then those who buy their agricultural products benefit, namely entrepreneurs, not farmers. The fate of farmers in our country is quite unfortunate because the government cannot fully protect them.
The residents' economic sector has actually begun to recover and improve in the past few months. But because at this time there was another spike in prices again, it made the people around me start to complain again about the current economy.
But I was wondering if this only happened in my country or in your country too?
I think all countries are experiencing the same thing because extreme weather and causing difficulties in agriculture and so on are experienced all over the world.