Quote:
Originally Posted by GGG
If the price on 2023 olive olive oil dropped 50% would you buy the 2022 olive oil for the 2022 price?
Commodities have to be sold at the spot price or at the future price. You can’t get the past price either for selling or buying.
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I understand commodity and market mechanism pricing but what is pissing me off is the level of greed within the food supply chain. This is causing undue hardship on consumers, businesses and with unintended consequences such as long term health. I can assure you that a lot of restaurants are going to cut back onto their EVOO and will use sub standard quality oils.
My issue is with the obvious greed. Container costs for imports have fallen substantially since 2022 yet the pricing is not reflected in imported goods amongst other costs.
Let's forget olive oil for a moment and turn what is happening to the beef market in a hypothetical scenario.
Beef prices skyrocket due to drought, market conditions, supply chain issues and overall greed. The supermarket is now selling steak at a much higher price than before but it's expiry date is for tomorrow, with no real prospect of additional supply coming in this week. Sure you can buy it and eat it but it's a piss off. You can't get the fresh beef cause it hasn't come online yet and when it does come, it will be substantially higher.
What is happening is companies and businesses are just raising prices for the sake of raising prices to **** everybody. Nobody is looking at not doing it.
I bought a pair of sneakers in summer 2022 that I loved, they were a 2021 model on sale. Since I loved them so much, I almost bought the same pair in 2023 recently. I noticed the price was literally 20% higher than it was in 2022 for no reason. We are literally seeing inflation go up on old goods, collecting dust in warehouses.
I am in business and totally understand the environment we are all in but it still is a gear grinder when nobody, especially government, is even trying to get a lid on things inflation wise. All the talk about inflation really falling is not what is actually happening on the street level.