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http://www.wsj.com/articles/el-nino-driven-food-price-rise-could-cramp-spending-in-asia-1463467874

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http://www.nytimes.com/topic/subject/food-prices-and-supply

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summary:

1) hot and dry weather has caused it to be more difficult to grow vegetables, and it cause the supply of leafy vegetables to drop by 30% in weeks.
2) places can experience more than 30 degree celcius
3) in singapore, this caused thewholesale cost of certain vegetables to double.
4) overall, because of the hot weather that is causing the plants not to grow, the production is dropping and the demand is going up. (inflation)
5) however, wet market stall owners are suffering losses as they increase prices to cover their cost price as consumers resist the hike in price

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26 Apr 2016

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http://www.channelnewsasia.com/news/singapore/malaysia-vegetable-prices/2733226.html

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1) Extreme dry weathers has been pushing food prices up and shriveling contents of shopping baskets across Asia due to the El Nino ( WARM ) weather
2) Wages have not increased , consumers have to spend more on food , less on the others
3) Producers have fewer crops to sell because of the devastating heat , also need to spend less on fertilizers , leads to less yield
4) Rise is price is much more significant than rice in salaries , consumers cannot keep up with the change

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Stall owner Gary Lian said earnings have since dropped by about 20 per cent a day as consumers balk at the higher prices.

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- Monopolistic Competition
- Many sellers
- Products are not identical but are close subtitutes
- Relative ease of entry into and exit
- Low start-up capital