There have been no northern hemisphere harvests since the war in Ukraine began. So who is getting rich from these increases in prices?
“There have been no northern hemisphere harvests since the war in Ukraine began. So who is getting rich from these increases in prices?”
What we are buying/eating now was harvested last year or the year before and has been in storage.
Commodities.
The real question is what happens to new-crop planting there, and throughout Europe, over the next 4-6 weeks.
Food growers, like gasoline distributors, factor in their own anticipated cost increases. To continue to sell existing stock at the old price, when they are already being hammered by higher production costs, would be suicidally stupid, leading to bancruptcy.
Note I said food growers, not farmers, because food production is now an industrial process. “Farmer Brown” is long gone.