The article basically says Indonesia and the Philippines aren’t importing any rice so the demand is way down, bringing the prices back to what they were at before the prices jumped apparently.
Way down is apparently around the price in 2022/2023
Thats not how it works. In most eastern countries rice is heavily controlled and subsidized the same way we control mechanism dairy, corn, wheat etc. So its not pure market capitalism at play.
Even in countries where the government doesn’t do this, there are companies that buy “Future produce” to help farms mitigate risk. They say what their price for corn will be months before harvest, and even if a bunch of global events affect the crop’s price, the farm gets reliable income. They don’t get the windfalls of high prices, but they’re basically offloading the risk, like insurance.
I guess this is uplifting is you don’t have a rice farm…
Capitalism makes this both uplifting and awful.
The article basically says Indonesia and the Philippines aren’t importing any rice so the demand is way down, bringing the prices back to what they were at before the prices jumped apparently.
Way down is apparently around the price in 2022/2023
Isn’t it more of a unplanned, free market problem? Related to capitalism (stock market), but not really capitalism.
Making a need a commodity is 100% capitalism.
I’m pretty sure every economic system will put a value on food
Having value isn’t the same as exploiting value for financial gain.
The things I inherited from my grandpa are valuable.
0 chance I’d even consider selling them. I will be giving them away or willing them to people when I die/get older though.
well, he was more than a man
He was a union man.
lol even Marx and Engels in their manifesto cite this specifically as an example.
Thats not how it works. In most eastern countries rice is heavily controlled and subsidized the same way we control mechanism dairy, corn, wheat etc. So its not pure market capitalism at play.
Even in countries where the government doesn’t do this, there are companies that buy “Future produce” to help farms mitigate risk. They say what their price for corn will be months before harvest, and even if a bunch of global events affect the crop’s price, the farm gets reliable income. They don’t get the windfalls of high prices, but they’re basically offloading the risk, like insurance.
yeah i might be taking an L this year. i’d be happy for consumers if this leads to cheaper rice in grocery stores.
You’ve got jokes.
lol
Rice: Thrives even though humans are fucking the climate, the soil and the water it needs to grow.
Human: my money :(((
Rejoice motherfucker, we are still not at the point of no return.
If they want the government paying them for the bad years, then they have to want to not make bank on the good ones.
Does this imply that each farmer has a larger harvest also?