With all the other delays in production and distribution, it’s becoming harder and harder to get the things we are used to having plenty in supply. Shriner has the audio from the Farmer and CEO of a 3rd Generation company explaining why. The Farmer estimates from 9-10 months in the audio, and you will see food prices rise 30-40%. You can buy things right now that are shelf-stable, like canned or frozen foods; you should do it. Don’t horde but do it because it’s going to save you some money. Why is this happening? The Farmer has an answer. His cost are increasing dramatically, so much that some of his contracts have been locked in, and he was losing money from them. They cant raise the prices to meet the cost of labor and other items needed to grow.
There were plenty of stories of food being delivered during the pandemic, but because no one was operating, the food went to waste. The Farmer continues saying that now that contracts are coming to an end, they will have to raise the price or risk going bankrupt by the end of the year. Pat and George are pretty shocked by the estimated increase. These are all the hidden costs from increasing the minimum wage and new taxes hitting communities being passed down to the consumer. Some people have found ways to cross this gap by just eating the cost themselves. But with more and more government interventions into business, we will see the rise of prices soon.
Talk about Tampa’s growth, community, opportunities, and challenges on “Tampa Bay Today” with Shriner Monday from 11 am to 12:30 pm and Tuesday through Friday from 10 am to 12:30 pm on MoneyTalk 1010. Call 888-404-1010 to be a part of the conversation. Shriner would love to hear your take on the topics of the day, news, politics, business, the economy, and more… without becoming angry or depressed. We know that could be asking a lot!
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