In a recent news article on ‘Bloomberg.com: Worldwide’ there is this breakdown of two categories of grain price increase:
Milling wheat for November delivery on the Euronext.liffe exchange in Paris climbed 7.50 euros, or 4 percent, to 197.50 euros ($312) a ton as of 1:14 p.m. local time.
Rice for July delivery added 37 cents, or 1.9 percent, to $20.33 per 100 pounds in Chicago. Rice is up 88 percent from a year earlier, reaching a record $25.07 on April 24, after some exporters curbed exports to ensure local supplies.
Now these are just two small examples of how very much the prices of two items have increase and are expected to continue to increase. When one reads this type of news, it’s no wonder there is a propensity to hoard.
Years ago, a movie came out entitled: ‘Deep Impact.” While not at all about grain or food prices or shortage, there was a line from the ‘President’ (played Morgan Freeman) while warning the public of the potential pending catastrophic event. He says: “There will be NO hoarding.”
What is interesting to me is there is a slight undertone in today’s economy and government that repeats that ‘warning’ by the fictitious ‘President’. The news of the rise in prices to an all time high from the last 30 years may in fact trigger hoarding. But is hoarding really a problem? Does the government have the right to restrict what we do with the food and grain we purchase or grow? Isn’t the problem more what we DO or do NOT DO with the storage we have?
If we have been watching trends in food prices, if we are willing to help and share with those in need, if we are being careful in where we prioritize our funds and expenses and place more food in the pantries, freezers and preserve our own produce for use for years to come… how is that ‘hoarding’? To me it is not. It is being wise and prepared.
The focus should surely be on solving the problem more than restricting those who have found their own solution for themselves, their families and their community by stock-piling a bit for tougher times ahead. If being prepared is ‘hoarding’ – then the prices need to be fixed so people won’t be compelled to ‘hoard.’
Popular Questions
Why do rising grain and food prices compel hoarding?
People may hoard grain and other foods when they expect prices to rise further or fear shortages. Buying extra supplies can feel like protection against inflation, disrupted deliveries, and reduced purchasing power. However, panic buying can increase demand and place additional pressure on already limited stocks.
How does hoarding affect grain and food prices?
When households, businesses, or governments accumulate more grain and food than usual, available supplies can tighten in the short term. That added demand may push prices higher, especially when harvests are weak or transportation is disrupted. Hoarding can therefore reinforce the same price concerns that encouraged people to stock up.
What should households do when grain and food prices compel hoarding?
Households should build a measured reserve of frequently used staples rather than buying more than they can store safely. Compare unit prices, set a spending limit, and add items gradually when supplies are available. Store grains in sealed, dry containers and rotate older products first to prevent waste.
Can hoarding caused by high grain and food prices lead to shortages?
Large-scale hoarding can create temporary shortages by removing products from normal circulation. Retailers may respond with purchase limits, while distributors face difficulty matching sudden demand. Buying only what a household needs, maintaining a reasonable emergency supply, and avoiding unnecessary stockpiling can reduce this effect.
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