Food prices doubled this year

[geyayy]

In my country even before pandemic has taken place, inflation took a major hit on our economy. There is this law that they passed that made made my fellow citizen poorer. Then this pandemic came, it felt like we crushed to the bedrock. All the items and of course food prices really sore high. They all did was panic buying and increased the demand, however the supply was low and it caused the doubling, no, tripling of prices.

[lifeOK]

According to the statistics Food prices rise 2% to 3% each year on average. 2020 is likely the rudest year ever as we have experienced yet. After the COVID outbreak and worldwide industry were closed during the lockdown these all things reason food become more expensive even some where it crossed more higher that become more trouble especially those were lived in the third world country.

[sulendra12]

The government can try a few steps, such as removing the middle-men, but the core issues remain. When I say core issues, I mean the decrease in per-capita availability of land, global warming.etc.

Even small things like that could leave the big impact in the future. I would prefer if gov takes this small step and could make better result later rather than not taking anything at all. The thing is they don't even start or don't even planning anything on that because it is true, we can't do that much actually without the help from government.

[wxa7115]

These are the consequences not so much of the spread of the coronavirus pandemic as too strict restrictive measures to combat the coronavirus. Under the influence of these measures, the gross domestic product in each country fell by tens of percent. At the same time, prices are rising, including for food. In my country, this is not yet very noticeable. Unemployment is growing, people are running out of money. Because of this, purchasing power falls, and therefore prices do not rise too much.

Purchasing power falls because when there are no jobs, the circulation of money also seize or limited. Money needs to be circulating for the economy to grow and if this does not happen, gross demestic product diminish. Every economy need to be productive for the good of all .

You are talking about a very interesting concept which is called the velocity of money, the velocity of money is nothing more but the speed at which money exchanges hands and how much on any given transaction, and without a doubt the pandemic has slowed down that velocity, governments have tried their best to increase that velocity by increasing inflation and force people to use their money, however a velocity of money that is too high is not ideal either.

After all when people begin to get rid of their money as soon as they got it most of the time it means that inflation is out of control, an scenario that is getting closer to happen with each passing day.

[Chrystora123]

snip..

fortunately I live in an country that is a food producer, so prices tend to be normal even in this "PANDEMIC" period.  Usually, countries that experience an increase in food prices in this "PANDEMIC" period are countries that are not food producers (wheat, rice, etc).  I think the government in your country should pay more attention to this problem because it is certainly affecting people's finances in the midst of this crisis.  I hope the increase in the price of foodstuffs in your country has subsided because at this time countries have re-activated exports and imports as usual..

[proTECH77]

Many countries are experiencing hardship since covid-19 came. many lost their job, many investors loss their profit, many companies stop work because of the corona virus that is killing people in different countries.
Many farmers find it difficult to go to farm to bring food items to market for people to purchase and use them to feed their family. My country if you disobey the law the government has put on ground concerning the lockdown, you will go to jail for 10 years, because of this many investors, companies and farmers find it difficult to produce food items to market in my country.

[slashz9]

because maybe the amount of supply during the pandemic has decreased so that goods will be a little difficult to find and the price will go up, that has become a basic principle of the economy.
at least the outbreak is not expected to create a global crisis.
but new things will inevitably form from this, for example new jobs and the economy will grow bigger if we go through this.

[jostorres]

Well there is a great posibility that the food prices will become double today or maybe in the next few months from now. Because every country has suffering from the covid-19 pandemic and all of the people arround are having a hard time to work because of some health protocol so the food prices is really expected to rise.

Lol your speculation is late because the doubled prices happens when the pandemic is still a hot issue,when the lockdown happens so the abused in price indication happens.
But now that the covid is starting to subside and the market prices is returning back to what the normal price,though now that there is a Pig desease happening here so the price slightly move high.

Actually depends on the location and the kind of market because where I live, the restaurants have reduced their prices because they are not getting enough customers and they are desperate to deliver food at cheaper prices. Some markets where exports are made will surely go up because there was and is absolutely dead export situation during pandemic and hence those product are short so expect higher price tag on such items.

The pandemic hasn't vanished yet but people are frustrated to such a level that they are now trying to accept the pandemic a new normal and ready to move out of their place more so because the death rate in corona virus is actually low. I mean yes there will be heaps of people being testing positive but for the virus but the deaths would not be as threatening as the number of cases.

[BTCappu]

in a time of a pandemic like now the price of food in my country remains stable, there is no decline in prices, a pandemic is only a sufferer for people under them who cannot go out to earn money. food prices have no effect.

This is the case with most of the countries. Even in my country (which imports more than 90% of the food), the prices have remained stable. The pandemic didn't had any impact at all on the food production. Obviously there were some obstacles in the movement of goods, but that was resolved in quick time. Also, the governments around the world this time made sure that the food availability remains stable.

I was wondering the same like why would the prices of food or groceries go up during such times? Because people are storing too much groceries? Well that might be a reason but that would create shortage of items rather than increase in prices.

Thankfully in my country there has been no such problems and while we are hit hard by the covid-19 but there are no stocking problems and people have been really nice to the lower society.

[GDragon]

Well there is a great posibility that the food prices will become double today or maybe in the next few months from now. Because every country has suffering from the covid-19 pandemic and all of the people arround are having a hard time to work because of some health protocol so the food prices is really expected to rise.

Lol your speculation is late because the doubled prices happens when the pandemic is still a hot issue,when the lockdown happens so the abused in price indication happens.
But now that the covid is starting to subside and the market prices is returning back to what the normal price,though now that there is a Pig desease happening here so the price slightly move high.

Actually depends on the location and the kind of market because where I live, the restaurants have reduced their prices because they are not getting enough customers and they are desperate to deliver food at cheaper prices. Some markets where exports are made will surely go up because there was and is absolutely dead export situation during pandemic and hence those product are short so expect higher price tag on such items.

The pandemic hasn't vanished yet but people are frustrated to such a level that they are now trying to accept the pandemic a new normal and ready to move out of their place more so because the death rate in corona virus is actually low. I mean yes there will be heaps of people being testing positive but for the virus but the deaths would not be as threatening as the number of cases.

I just hope those restaurant wouldn't lose their income by lowering their price. Cause I'm sure their operating cost got high too because of the pandemic, suppliers doubled their prices too. I'm sure cause a friend from a market place told me that their supply of vegetables and meat got high. So that explains the reason why meat is high, I've check my local market earlier and it is still getting higher.

Restaurants lowering their prices are taking a risk, it is risky but is still a choice.

[bryant.coleman]

I was wondering the same like why would the prices of food or groceries go up during such times? Because people are storing too much groceries? Well that might be a reason but that would create shortage of items rather than increase in prices.

Thankfully in my country there has been no such problems and while we are hit hard by the covid-19 but there are no stocking problems and people have been really nice to the lower society.

I don't think that people are hoarding. That may have happened during the initial phase of the pandemic, but it stopped when they realized that the shops and supermarkets are going to remain open. Even I stocked as much as I can during March and April. On top of that, online retailers such as Amazon greatly expanded their coverage during the pandemic. A lot of people shifted to online retailers from local shops.

[finaleshot2016]

These are the consequences not so much of the spread of the coronavirus pandemic as too strict restrictive measures to combat the coronavirus. Under the influence of these measures, the gross domestic product in each country fell by tens of percent. At the same time, prices are rising, including for food. In my country, this is not yet very noticeable. Unemployment is growing, people are running out of money. Because of this, purchasing power falls, and therefore prices do not rise too much.

Purchasing power falls because when there are no jobs, the circulation of money also seize or limited. Money needs to be circulating for the economy to grow and if this does not happen, gross demestic product diminish. Every economy need to be productive for the good of all .

Prices of essential are still rising in my country and not even being stable or reducing it. People purchasing power is falling and only those who have a regular income are able to spend or even they have reduced the unnecessary spending because the future may be uncertain with industries getting effected due to pandemic.

Yes because all of us are affected in the pandemic, some aren't but they're also taking this advantage to gain more and live a wonderful life.

That's how businessman thinks, they will grab any opportunity to grow their income annually.

It's very disappointing that many people have that kind of mindset instead of helping each other to endure the situation we are facing. The worst part of this pandemic is, we will experience pricey things in the future since we aren't still COVID-19 free.

[Apes]

When the pandemic hit my country there were some food shortages, which made the prices of some basic foodstuffs increase. this incident was quickly controlled by the government in my country. now, some basic commodity prices have returned to normal, this scarcity event might happen again if this pandemic spreads out of control.

This pandemic is really worrying but nothing to be afraid of just stay safe.

[Mahanton]

These are the consequences not so much of the spread of the coronavirus pandemic as too strict restrictive measures to combat the coronavirus. Under the influence of these measures, the gross domestic product in each country fell by tens of percent. At the same time, prices are rising, including for food. In my country, this is not yet very noticeable. Unemployment is growing, people are running out of money. Because of this, purchasing power falls, and therefore prices do not rise too much.

Purchasing power falls because when there are no jobs, the circulation of money also seize or limited. Money needs to be circulating for the economy to grow and if this does not happen, gross demestic product diminish. Every economy need to be productive for the good of all .

Prices of essential are still rising in my country and not even being stable or reducing it. People purchasing power is falling and only those who have a regular income are able to spend or even they have reduced the unnecessary spending because the future may be uncertain with industries getting effected due to pandemic.

Yes because all of us are affected in the pandemic, some aren't but they're also taking this advantage to gain more and live a wonderful life.

That's how businessman thinks, they will grab any opportunity to grow their income annually.

It's very disappointing that many people have that kind of mindset instead of helping each other to endure the situation we are facing. The worst part of this pandemic is, we will experience pricey things in the future since we aren't still COVID-19 free.

You would really expect that because not all people do really care about humanity and also its business which means you had invested something where its just normal that you would really aim
for profit but somehow it shouldnt really be beyond on whats suggested.Prices now do really increase but there are still people who do keep prices low and suggested but there are people whom
do really take advantage on the current situation specially now on essentials where people do need the most.Its sad but this is the reality we are facing now and theres no choice
but to deal with it and its really sad for those who earn on average yet allocation for food would really be on big slice.

[erikoy]

Not really because the government here in our place had already take some actions like preventing market to double or make an increase in the price. An executive order also has been signed and release from the office of the president for those business owners who will violate on the price control order.

Though yes it may not going to take effect on all areas of markets but at least mostly especially the essentials are being monitored and control the movement of the price.

[gatti]

Due to COVID 19,the economy of many country had faced a lot.Now the price stabilization is happening ,the price of many food items and his sub ordinates was reduced compared to last month.The flow of food products and his sub ordinates was increased.So the resellers can't increase at the high price for now.And even buyers are not ready to buy at that price.

[Fredomago]

Due to COVID 19,the economy of many country had faced a lot. Now the price stabilization is happening ,the price of many food items and his sub ordinates was reduced compared to last month.

Some sort of breathing for consumers, as there's some lift coming from the government and the fact that businesses are in need of encircling their money to survive they can't continue charging higher than how consumers can pay them.

The flow of food products and his sub ordinates was increased. So the resellers can't increase at the high price for now.

That's true, unlike last month where deliveries was hold, now there are companies who are already open so supplies are showing back now.

And even buyers are not ready to buy at that price.

True! due to jobless buyers they can't pay it from that price.

[Dsdaq]

The food price doubled due to lockdown because in most countries farmers are also not allowed to go to farm, while the rich businessmen take advantage of the situation by buying and hide the food item so that when the price doubles they will sell when there is high demand. This happens more in developing countries causing a price increase of upto 70%.

[Genemind]

Not just food, almost all basic commodities' prices rose due to the pandemic. I think this is to be expected since most companies and manufacturers had to permanently or temporarily stop their production. Even local farmers were not able to produce due to the lockdown. Traveling products from place to place is also difficult due to strict protocols of the pandemic. That is why they have no choice but the increase the price. The pandemic had been a huge burden to all of us, people losing jobs, prices are increasing and we have limited access to everything.

[wxa7115]

snip..

fortunately I live in an country that is a food producer, so prices tend to be normal even in this "PANDEMIC" period.  Usually, countries that experience an increase in food prices in this "PANDEMIC" period are countries that are not food producers (wheat, rice, etc).  I think the government in your country should pay more attention to this problem because it is certainly affecting people's finances in the midst of this crisis.  I hope the increase in the price of foodstuffs in your country has subsided because at this time countries have re-activated exports and imports as usual..

This is a good point, for the most part countries have concentrated on being as cost effective as possible and if another country can produce food for a cheaper price then they will buy that food instead of trying to push forward their own internal economy, they do this because it is easier and less costly, but this only works when everything is fine, when things change like it is the case during this pandemic countries will try to protect their own population and if for that they need to cut the supply of food to another country they will do so.

So I hope governments have learned a lesson and that they at least need to have the ability to supply food to their own population if they do not want the possibility of seeing riots on the streets.