Weather can have implications beyond the extremes of summer or winter. A drought in the Midwest can cause crop prices to rise because the fruits and vegetables that are produced incur increased cost because of their fragile requirements for water, thus causing prices to rise. For example, Canada imports about 80% of all their organic produce, most of it from California, and currently there is a drought that will have adverse effects on what Canadians pay for produce. As it becomes more difficult and costly to harvest organic produce, what produce that is imported will have a higher cost because of the drought causing a slowing of the supply. According to an article from Canadian Television News (CTV) (2014), “Canada imports more than $5 billion worth of produce from California yearly and much of those fruits and vegetables cross the border during the winter months. But as California endures the most severe drought to hit the state in 500 years, strains on water supplies are expected to force farmers to leave fields unplanted, which will create a ripple effect ...
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...he product rose so much that boxes were selling on E-bay for hundreds of dollars. Luckily, since then another company has bought the rights for the brand and is currently producing them.
In conclusion, the supply and demand for food fluctuates considerable responding to several conditions: environmental, political, and economical. In general, the price elasticity for food will always remain constant—the deviations will be for certain products/markets. Moreover markets naturally set themselves at an equilibrium rate determined by supply and demand, when governmental policies and corporations create an economic shortage, this will have a bigger impact on the supply and demand then the above mentioned conditions. While food production is constant, the supply and demand changes dramatically due to the fragile systems that were surrounded by—whether natural or manmade.
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