I think the rise in the prices of food items have increased everywhere. Perhaps, it’s more pronounced in some countries than others but I believe the increase in foodstuffs are felt everywhere.
Your notion about farmers making huge amounts of profits due to selling off their agricultural products is not entirely accurate. Small to medium scale farmers, after selling off their products, would have to purchase other products and items they lack and need, settle bills and would also require the services of other professionals. There’s barely anything left of the huge profits after all this.
With inflation ravaging the land, it’s not surprising to see the price of food items rise and continue to climb. Asides the wealthy elites, this increase is felt all over. The average income earner have had to cut back on their spending or alternatively go in search of a side job.
Your notion about farmers making huge amounts of profits due to selling off their agricultural products is not entirely accurate. Small to medium scale farmers, after selling off their products, would have to purchase other products and items they lack and need, settle bills and would also require the services of other professionals. There’s barely anything left of the huge profits after all this.
With inflation ravaging the land, it’s not surprising to see the price of food items rise and continue to climb. Asides the wealthy elites, this increase is felt all over. The average income earner have had to cut back on their spending or alternatively go in search of a side job.
Well, in the discussion of farmers and their profits, there are certainly various factors that need to be considered. For example, according to an article by Will Snell in 2022, inflation causes pressure on farm commodity prices which in turn demands farm inputs that include borrowed funds. Additionally, the effects vary if the individual getting or losing profit is a farmland investor, a permanent landowner, or a land renter. Additionally, Marc Guilfoil, owner of Evans Mill Cattle Company stated that farmers are also being affected by the inflation as they have to pay higher prices for weed-killing chemicals, crop seeds, fertilizer, equipment repairs, and seasonal labor which are all detrimental to ensure that the farm is working and producing goods. Moreover, some needed chemicals even went out of stock and farmers need to find a quick replacement that will work just as well but most likely have a risk of higher rate. Guilfoil also added that he is sure, based on his current budgeting plan and assessment, that he is and will continue to spend more than he ever has to operate his farm as inflation continues to rise.
Here are the sources in case anyone wants to have a read or better understanding of the points I stated:
1. https://agecon.ca.uky.edu/inflation-%E2%80%93-%E2%80%9Cgood%E2%80%9D-or-%E2%80%9Cbad%E2%80%9D-agricultural-producers-and-consumers
2. https://spectrumnews1.com/ky/louisville/news/2022/06/16/farmers-feeling-inflation
