this post was submitted on 23 Jun 2025
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Actual farmers are usually held hostage by the agro-giants who buy their product. In most markets there's a Monoposony - like a monopoly but a single buyer who can set prices and terms, rather than a single seller.
Industry behavior is driven by these companies who have all the power. They leave farmers with all of the risk and take all the profit for themselves.
I went looking for more information about that term and wasn't finding anything. But then the dictionary suggested Monopsony, which I figure is what you meant?
Yeah I thought it was monopsony but my autocorrect gave me that incorrect spelling and I didn't bother to double check.