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AN INQUIRY INTO PUBLIC OPINION ON HOARDING EDIBLE ITEMS AND ITS IMPACT ON MARKET PRICES IN CHENNAI
AUTHORED BY - S. DIVYA[1]
BA LLB (HONS) 1ST YEAR
Saveetha School Of Law
Saveetha Institute Of Medical And Technical Science (SIMTAS) Chennai 600077
ABSTRACT
Hoarding edible items poses a significant threat to the Indian economy, affecting various aspects of the nation's socio-economic landscape. This practice, often driven by speculative motives, creates a ripple effect with detrimental consequences. Firstly, hoarding contributes to artificial scarcity, leading to price fluctuations in the market. As essential commodities become scarce due to hoarding, the demand-supply dynamics are disrupted, causing prices to skyrocket. This directly impacts consumers, especially those with limited financial means, exacerbating food insecurity and hindering the government's efforts to maintain price stability. Moreover, hoarding hampers the efficient functioning of agricultural supply chains. Farmers, who are the backbone of the Indian economy, suffer as their produce may not reach the market in a timely manner. This not only affects their income but also disrupts the overall agricultural ecosystem. The objectives of the paper is to identify is public aware of hoarding edible items, to point out the primary reasons behind hoarding edible items, to determine how hoarding affect the market price, to examine how frequently is public affected in shortage of food items due to hoarding, to diagnose the measures that can reduce hoarding and its impact on market prices, to examine the ability of local government in addressing hoarding. This paper is basically an empirical research with convenient sampling method used and the data is collected in Chennai, Tamil Nadu with 207 respondents. The findings of the research paper is that public is aware about hoarding edible items but they are unable to spot the situation properly and is not able to report it. The primary reasons behind hoarding is to drive up the prices and to exploit market demands during festivals. When a product is supplied more the price of the product would drive down and it will be easily accessible so the mediators just hoard the products and they create demand, when demand increases automatically the price gets increased and makes more profit to the mediators and the creators. The hoarding is more often seen in urban than the rural this would also be because the illiterate people in rural may not be able to point it out. Hoarding edible items can affect market prices by causing price fluctuations, demand creating and it also affects the public by making it harder for the economically depressed families and the economically backward public life affects it more as price increases they can afford it and their daily life routine gets disturbed. Most of the respondents have personally affected by hoarding and price controls on edible items can help in reducing the hoarding and strengthening the monitoring would also help in reduce hoarding and public are only somewhat confident on the government ability to address issues on hoarding. In conclusion, there should be more government monitoring on hoarding and government should control the prices and ensure that demand are not created artificially.
KEYWORDS : Hoarding, edible items, market prices, price fluctuations, food scarcity, impact in Indian economy.
INTRODUCTION:
Hoarding edible items poses a significant threat to the Indian economy, affecting various aspects of the nation's socio-economic landscape. This practice, often driven by speculative motives, creates a ripple effect with detrimental consequences.
Firstly, hoarding contributes to artificial scarcity, leading to price fluctuations in the market. As essential commodities become scarce due to hoarding, the demand-supply dynamics are disrupted, causing prices to skyrocket. This directly impacts consumers, especially those with limited financial means, exacerbating food insecurity and hindering the government's efforts to maintain price stability.
Moreover, hoarding hampers the efficient functioning of agricultural supply chains. Farmers, who are the backbone of the Indian economy, suffer as their produce may not reach the market in a timely manner. This not only affects their income but also disrupts the overall agricultural ecosystem. The inability to sell their products at fair prices further disincentivizes farmers, perpetuating a cycle of economic hardship in rural areas.
The impact on small businesses and retailers cannot be overlooked either. Hoarding creates an environment of uncertainty, making it challenging for businesses to plan and operate effectively. Small retailers, in particular, face increased costs and reduced profit margins, leading to economic strain at the grassroots level.
The Indian government's initiatives to tackle hoarding of edible items have been pivotal in safeguarding the stability of the national economy. These measures aim to curb the adverse effects of speculative practices on essential commodities and contribute to a more equitable and resilient economic environment.
One significant government initiative is the establishment of regulatory frameworks to monitor and control hoarding. Through bodies like the Food and Consumer Affairs Ministry, the government has implemented stringent measures to deter individuals and entities from stockpiling essential goods. These regulations set limits on the quantity of goods that can be held by any entity, ensuring a fair distribution of resources and preventing artificial scarcity.
Moreover, the government has invested in advanced technology and data analytics to enhance monitoring and enforcement capabilities. This includes the use of sophisticated systems to track commodity movements, analyse market trends, and identify potential instances of hoarding. By leveraging technology, authorities can respond swiftly to emerging situations, mitigating the impact of hoarding on supply chains and market dynamics.
Furthermore, hoarding undermines government efforts to implement effective food distribution policies. Programs aimed at providing subsidized food to vulnerable populations face challenges when essential commodities are held in excess by a few entities. This directly impacts the government's ability to ensure food security for all citizens, particularly those in need.
In terms of the macroeconomic perspective, hoarding contributes to inflationary pressures. As prices rise due to artificial shortages, the overall cost of living increases, impacting the purchasing power of the general population. This inflationary trend can have cascading effects on various sectors, potentially slowing down economic growth and exacerbating income inequalities.
In conclusion, hoarding of edible items poses a multifaceted threat to the Indian economy. From distorting market dynamics and disrupting supply chains to impacting food security and fostering inflation, the consequences are far-reaching. Addressing this issue requires a combination of regulatory measures, public awareness campaigns, and concerted efforts to promote fair and transparent market practices. Only through such comprehensive actions can India hope to mitigate the adverse effects of hoarding on its economy and ensure a more equitable and stable future.
OBJECTIVES :
LITERATURE REVIEW :
Sthanu R Nair (2012) have explained in his article that the causes of the high inflation experienced in 12 food commodities between January 2008 and July 2010. It is shown that a majority of the commodities were subject to inflationary pressures due to domestic supply-side constraints. They include pulses, fruits, vegetables, meat, fish, spices, tea, coffee and sugar. Cost escalation was the primary reason for rising prices of milk and eggs. The high inflation of rice was caused by a complex interplay of factors. With the exception of milk, the paper finds no concrete evidence to support the popular view that the higher food prices in recent years was the outcome of a "secular shift" in food consumption patterns towards high-value agriculture products. Developments in the global economy have influenced the domestic food prices mainly through passing on world oil price increases. High cost food imports played only a very limited role. . Chang Guoliang (2023) have explained in his article that the Chinese mitten crab, Eriocheir sinensis, is a popular food and an important breeding crab in China. In order to pursue higher sales prices and improve breeding efficiency, many farmers often hoard these crabs, until around the Spring Festival or even later, before selling them. Therefore, considering the time span of hoarding, the present study was designed to check the quality (edible tissues, muscle quality, hepatopancreas colour, proximate biochemical and amino acid compositions) of E. sinensis, before and after overwintering hoard. The hepatosomatic index before hoarding in winter was higher than that of after hoarding in winter, but the gonadosomatic index, meat yield, total edible yield, and condition factor were significantly ( p < 0.05 ) lower after hoarding in winter. Wasilat lasisi (2023) have explained in her article that Since the outbreak of the novel corona virus in Nigeria, attention has been drawn to the rate at which manufacturers and retailers treat the consumers in questionable ways by lying about the quantity of products and manipulating the prices of common commodities. Many commodity prices have soared unbearably in Nigeria because ethical business practices have been jettisoned by many sellers this paper shows that hoarding of goods and price gouging are unethical because the perpetrators derailed from acting from a sense of duty in respecting the dignity of the consumers and only treat them as means to a greedy end. proceeded by exposing, analysing and examining the ethical issues embedded in the actions of sellers during COVID-19 by citing examples and In conclusion Chuanhao Zhou (2023) have explained in this article that Understanding the impact Automated market makers have on market returns and pricing is critical for traders, regulators, and researchers. Improved investment returns and the development of decentralised financial ecosystems may result from incorporating the results into market structure and liquidity. The implementation of automated market makers on centralised stock exchanges has been aimed at enhancing market efficiency. This research investigates the impact of automated market makers on stock prices and returns. Using monthly market returns from the closing index and equity price data, the study examines the effects before and after the implementation of automation. The study utilises a longitudinal research design, analysing listed firms with data spanning the study period. The findings contribute to the understanding of the influence of automated market makers on stock prices and returns, particularly in regions with limited literature on the subject. Ruben Budau (2023) have explained in the article that Edible mushrooms from the spontaneous flora of Romania are characterised by special attention on the internal and European market. This attention is due primarily to the nutritional qualities that they contain, but also because they are harvested from an environment of a natural nature, free of pollutants. In general, edible mushrooms derived from spontaneous flora, are seasonal mushrooms, which by their nutritional value contribute both to the economic circuit and to the diversity of natural products rich in nutrients. The main objective of this work was to identify the main edible mushrooms harvested from the spontaneous flora of Romania, mushrooms that are of major interest for the Romanian market, as well as for the European market, followed by the average purchase value, the areas of provenance, packaging, and the delivery market. The data present in this study are data taken between 2019 and 2022. The value of non-wood forest products such as mushrooms is a dynamic of interest for the most harvested and marketed edible mushrooms by private entrepreneurs, as well as average purchase prices, identified areas with high harvest potential and packaging and delivery preferences. Subir bairagi (2022) have explained in his article that the supply chain disruptions caused by the COVID-19 outbreak have led to changes in food prices globally. The impact of COVID-19 on the price of essential and perishable food items in developing and emerging economies has been lacking. Using a recent phone survey by the World Bank, this study examines the impact of the COVID-19 pandemic on the prices of the three essential food items in India. The results indicate that price of basic food items such as atta (wheat flour) and rice increased significantly during the pandemic compared to the pre-pandemic period. In contrast, during the same period, the price of onions declined significantly. The findings may suggest panic-buying, hoarding, and storability of food items. The results further reveal that remittance income and cash transfers from the government negatively affected commodity prices. Thus, this study’s findings suggest that families may have shifted the demand away from essential foods during the pandemic. Slobodan Djajic (1999) have explained in his article that the implications of a number of policy changes in the context of a dynamic model of an economy with administered prices. Official prices below the market-clearing level give rise to shortages, hording, and parallel-market activity. The paper examines the implications for consumption, hoarding, and the parallel-market premium of changes in official prices and wages, a crackdown on hoarding, and a monetary reform. Shanshan li (2023) have explained in her that in anticipation of price hikes and shortages caused by supplier disruptions and manufacturer production stops, customers might stockpile extra products. In the case of a supplier disruption, a manufacturer may decide to continue producing using a contingent source. Capturing the price dynamics in four disruption-related periods (i.e., responding, rising, recovering, and recovered), we derive optimal hoarding policies for customers. The results indicate that customer hoarding decisions fall into multiple patterns depending on the interactions between disruption events, market responses (quick and slow), and market recovery (instant, quick, slow, and never). We next present contingent sourcing tactics for manufacturers to mitigate disruptions with and without customer hoarding. We find that future price increases could induce contingent sourcing even if it is unprofitable to resume production during the price-responding phase. Our results offer recommendations regarding when and how to use hoarding and contingent sourcing accounting for uncertain disruption duration and asymmetric information along with disruption- and recovery-driven price dynamics. These recommendations can be of particular value for supply chain decision-making at times of growing inflation. We also demonstrate the impacts of customer hoarding and disruption information on the value of contingent sourcing.catherine E T Hutchison (2023) have explained in her article that Applicants received a mean of 1.8 ± 2.2 Thalamus interview invitations in 2020 to 2021 and 1.7 ± 2.4 invitations in 2021 to 2022, with no change to the overall distribution curve. A total of 39% (606 of 1565) of applicants received no Thalamus interview invitations in 2021 to 2022, 75% (1176 of 1565) received two or fewer, and < 1% (14 of 1565) of applicants received 10 or more invitations. Redistributing excess interviews held by the top 5% of applicants resulted in 2% (61 of 2651) of interviews being redistributed (Model 1). Removing 5% of the total applicant pool resulted in a redistribution of 3% (87 of 2651) of the interview invitations (Model 2). Conclusion: Orthopaedic surgery interview data demonstrated an expected uneven distribution of interview invitations, with a small proportion of highly competitive applicants receiving a higher number of interview offers as well as a large group of applicants receiving no interview invitations in Thalamus. Concerns that "hoarding" would lead to a crisis resulting in many unmatched residency positions seemed unfounded, given the excess of applicants relative to positions and the minimal change in the distribution of interviews in the cap model. Clinical relevance: Medical students applying to orthopaedic residency should seek individual advising to improve their individual odds of matching, while understanding that interview hoarding does not seem to alter the distribution of interviews. Program directors and medical students' advisors should be cognizant that a small proportion of applicants are broadly interviewed and may benefit from steps taken to ensure applicants have genuine interest in the program. Kaleeshwari Selvaraj (2023) audits in her article that the war between Russia-Ukraine which started one-and-a-half-month ago is impacting the global level supply chain, which has massively hit the global market. The effect of conflict could have on the Indian economy's nascent recovery from the pandemic. Wheat exports from Russia and Ukraine constitute nearly one-quarter of the world's total wheat exports. The war has impacted the wheat supply chain, it has opened up an opportunity for India to export to countries that have traditionally not been an importer of Indian wheat. India is one of the world's largest net importers of fertilisers, thus escalated prices could inflate India's subsidy bills. The increased crude oil, edible oil, and commodity prices will impact the common man. That is consumer demand has not recovered and firms share finding it difficult to pass on the impact to consumers. Focusing on this the paper has taken a stand to discuss the impact of rising crude oil prices on the economic factors of the Indian economy. Taking crude oil prices, the impact has been analysed on the gross domestic product, inflation, gold, prices, and foreign exchange reserves using statistical tools such as growth, trend analysis, correlation, and regression. The results have shown that there is an impact of Russia Ukraine war concerning crude oil prices on economic factors which have hit the economy. Sasha Newell (2023) have explained in her article that Hoarding has largely been approached from a psychological and universal perspective, and decluttering from an aesthetic and ecological one, while little work has been done to think about the cultural and global economic aspects of these phenomena. Of Hoarding and Housekeeping provides an anthropological, global, and comparative angle to the understanding of hoarding and decluttering using cases from a variety of countries including US, Japan, India, Cameroon, and Argentina. Focusing on the house, with careful attention to material flows in and out, this book examines practices of accumulation, storage, decluttering, and waste as practices of kinship and the objects themselves as material kin. Kevin volkan (2021) audits in his article that hoarding of inanimate items, examined from a developmental object-relations perspective, appears to involve transitional phenomena. Animal hoarding also involves transitional phenomena, but animals, which can serve as animated transitional objects, also have a repetition compulsion function. These psychodynamic characteristics are relevant for establishing a working transference with the analyst or therapist, in order to promote positive therapeutic outcomes. Iqbal (2020) have explained in his article that the COVID-19 pandemic has taken up the whole world. The developed countries even cannot fight it due to non-availability of vaccination for virus. In the county of 1.38 billion people, this new virus has created a havoc, which has resulted in the sudden scarcity of items which are essential for the controlling of the virus. The problem can be understood in two-fold: Black Marketing & Hoarding. Black marketing is the illegal trade of goods and services with the intention to evade the lawful requirements of such trade. Two such common tactics used are to increase the price beyond the controlled price or lower the price below the normal. Hoarding, on the other hand is habit of accumulating food or other essential items. In this paper the author tries to present a brief picture of hoarding and black marketing which took place due to COVID- 19 and simultaneously the author also tries to provide the statutory provisions as well as also discusses the Government initiatives in curbing the hoarding and black marketing. Ramesh Chand (2010) have explained in his article that the main reason for the current surge in food prices is the supply shock due to the drought in 2009 and the carry-over effect of the low growth of food production in 2008-09. As the frequency of such shocks is expected to rise, India needs to have an effective food management strategy to deal with these episodes. It also needs to explore various other options for price stabilisation like maintaining buffer stocks and using trade. The economy has to invest heavily in expanding storage capacity for various types of foods in both the public as well as private sectors. Due to fluctuations in growth, the export of some commodities in one or two years is followed by their imports, which invariably involves a large variation in costs and prices. As India is a net exporter of food, a part of what is now exported needs to instead become part of domestic stabilisation stocks. Syed moudud (2012) audits in his article that the price of essential commodities is increasing hastily since 2005 and climbed at the highest peak of the decade in 2008. However, prices declined a bit in 2009 but again started to increase from 2010 and till November 2011 prices of most of the essential commodities have risen more than those of 2008. If taken 2005 as base year, the scenario of food prices in 2011 becomes a matter of stun and awe. We have scrupulously reviewed the relevant credentials and literatures which indicate that shortfall & volatility in commodity production, relative price (fuel, electricity etc.), consumption pattern, trade policy, financial market, syndicate and hoarding are mainly responsible to make the price of essential commodities sky rockets. However, we have tried to mention some remedial policies against forceful price hike. Md. Ariful Islam (2013) have explained in his article that a positive correlation, but the correlation is very insignificant. Obviously, there are some reasons behind this insignificance. We should remember that, inflation is not the only factor that can affect the import trade. There are many other factors that can influence the import trade of a country. In case of Bangladesh, the reasons are the massive pressure on the demand of goods available, exchange rate fluctuation, huge population, frequent natural disasters of Bangladesh, different government policies, relationship with the exporting country, inflation rate of the exporting country etc. As so many factors are influencing the import of a country, that’s why inflation cannot create a huge pressure on the import. Dr. R. Dhanasekar (2019) have explained in his that India has high inflation rate of around 9% and consumer price index (CPI) is currently flashing at more than 10%. Prices of onions, vegetables and other staples are rising even faster food prices index shows they jumped almost 17% last financial year in the past two years wholesale prices of food have risen by nearly 40% and retail prices have gone up even faster. In spite of robust monsoons and bumper crop, prices of food items or artificially high hemmed in from all sides and average middle class person is painted by the inexplicable market prices. Vegetables cost 30% more than last year, the immediate reason for the spurt In the price of specific food items is hoarding, the growing penetration of big operate in the food economy. Dr. Kubendren N (2016) audits in his article that India always Confronting growing problem with food productivity combined with its increasing population. India has the highest fluctuations in food inflation of any major Asian company apart from Persistent food, inflation, policymaker, face, multiple problems on the agriculture, the Indian planner, right from the beginning, realised we need to apply self sufficiency in food grains as one of the important goals in planning Even though self-sufficiency has been achieved, food, inflation is still being a big problem for the government. The objective of the study is to identify the cost of food inflation in India since the global crisis. Sanya Saxena (2019) audits in her article that Exploring inflationary fluctuations in India across the past five decades and determining what factors contributed to extremely high and low rates. Indian scenario has experienced vast differences with significant twists given the pre-reform period (also, post-independence period) and the post-reform period. The paper analysed the measures taken by the government; developing fiscal and monetary tools in the face of such fluctuations within this time frame i.e. 1969-2019. Additionally, the paper observes the impact of inflation across different sectors of people. And finally, the paper aims to provide solutions to remedy these volatile inflationary fluctuations; for a developing country like India. Vandana shiva (2004) audits in her article that India, with a billion plus population, has put agriculture at the heart of its economy and food security at the centre of its agriculture policy. However, all the decisions and policies of a free and independent India which replaced colonial policies of land alienation, and concentration on ownership of land, super exploitation of the peasantry, the creation of famines are being undone through globalisation. These policies are bringing back “zamindari” and land monopolies of colonial times. The public distribution system (PDS) is being dismantled. Farmers are committing suicides, reports of starvation deaths have become common, foreboding a return of famines last experienced under British rule. Biodiversity is being rapidly eroded, and food, the very source of health and nutrition has become a major source of health hazards caused by toxic chemicals in factory farming and new genetically engineered foods and crops. This paper examines these developments in detail and proposes an agenda for creating an alternative future of food and highlights the current practices that are working towards this alternative.
METHODOLOGY:
The type of research adopted here is a empirical research. A total 207 samples have been collected. The samples have been collected through a non-probability, convenient sampling method. The sample frame taken here is through online by using google forms in and around Chennai,Tamil Nadu. There are five independent variables and the variables are age,gender, educational qualification, occupation and residency. The dependent variables in the research are is public aware of hoarding edible , impact of hoarding in market price and how frequent they witness price fluctuations due to hoarding.
ANALYSIS
FIGURE 1
Legend :
Figure 1, Shows the age distribution of the sample respondents and have they observed or heard about incidents of hoarding edible items in their local area.
FIGURE 2
Legend :
Figure 2, shows the gender distribution of the sample respondents and have they observed or Heard about Incidents of hoarding edible items in their local area.
FIGURE 3
Legend :
Figure 3 shows the residency distribution of the sample respondents and have they observed or heard about incidents of hoarding Edible items in their local area.
FIGURE 4
Legend :
Figure 4 shows the age distribution of the sample respondents and their agreeability on the statement that hoarding edible items on Large scale can lead to food shortages and price increases for the general public.
FIGURE 5
Legend :
Figure 5, shows the educational qualification distribution of the sample respondents , and the agreeability on the statement that hoarding edible items, on a large scale can lead to food shortage and price increases for the general public.
FIGURE 6
Legend :
Figure 6, shows the occupation distribution of the sample respondents and the agreeability on the statement that hoarding edible items, on a large scale can lead to food shortage and price increases for the general public.
FIGURE 7
Legend :
Figure 7, shows the age distribution of the sample respondents and their opinion on what are the primary reasons behind hoarding edible items.
FIGURE 8
Legend :
Figure 8, shows the educational qualification distribution of the sample respondents and their opinion on what are the primary reasons behind hoarding edible items.
FIGURE 9
Legend :
Figure 9, shows the residency distribution of the sample respondents and their opinion on what are the primary reasons behind hoarding edible items.
FIGURE 10
Legend :
Figure 10, shows the age distribution of the sample respondents and how often do they encounter situations where edible items are unavailable or in short of supply in local markets.
FIGURE 11
Legend :
Figure 11, shows the residency distribution of the sample respondents and how often do they encounter situations where edible items are unavailable or in short of supply in local markets.
FIGURE 12
Legend :
Figure 12, shows the age distribution of the sample respondents and how do they believe Hoarding edible items affect the market price.
FIGURE 13
Legend :
Figure 13, shows the gender distribution of the sample respondents and how do they believe Hoarding edible items affect the market price.
FIGURE 14
Legend :
Figure 14, shows the educational qualification distribution of the sample respondents and how do they believe Hoarding edible items affect the market price.
FIGURE 15
Legend :
Figure 15, shows the educational qualification distribution of the sample respondents and Do they think the government should implement stricter regulations and penalties to prevent hoarding of edible items.
FIGURE 16
Legend :
Figure 16, shows the occupation distribution of the sample respondents and have they personally been affected by hoarding in terms of increased food prices or decreased availability of essential items.
FIGURE 17
Legend :
Figure 17, shows the residency distribution of the sample respondents and have they personally been affected by hoarding in terms of increased food prices or decreased availability of essential items.
FIGURE 18
Legend :
Figure 18, shows the educational qualification distribution of the sample respondents and what matches do they believe can help reduce hoarding and its impact on market prices.
FIGURE 19
Legend :
Figure 19, shows the residency distribution of the sample respondents and what matches do they believe can help reduce hoarding and its impact on market prices.
FIGURE 20
Legend :
Figure 20, shows the residency distribution of the sample respondents and how confident are they in the local government’s ability to address issues related to hoarding edible item.
RESULT
It is revealed that 21.74% of the respondents of age group 41 – 50 have responded yes and 20.77% of the respondents belonging to age group 31–40 have also responded yes majority of respondents have responded yes that they have observed and heard about the incidents of hoarding edibles items in their local area. [Figure 1]
It is revealed that 43.48% of male respondents have responded yes and 28.02% of the female respondents have also responded yes they have observed or heard about Incidents of hoarding edible items in their local area. [Figure 2]
It is revealed that 66.18% of the urban residents have responded yes and 10.63% of the rural residents have responded no on they have heard or observed incidents of hoarding edible items n their local area. This shows that the urban residents have observed more than the rural residents [Figure 3]
It is revealed that 14.01% of the respondents belonging to age group 31-40 have responded Neutral and 10.63% of the respondents belonging to age group 41 to 50 have Disagreed on the statement and 12.56% of the respondents belonging to age group 21-30 have agreed on the statement that hoarding edible items on large scale can lead to food Shortages and price increases for the general public.[Figure 4]
It is revealed that 15.94% of the postgraduates have strongly agreed and 9.66% of undergraduates have responded neutral and 10.63% of the respondents who has no formal education have strongly disagreed with the statement hat hoarding Edible items on a large scale can lead to food, shortages and price increases for the general public. [Figure 5]
It is revealed that 14.49% of the students have agreed with the statement and 10.14% of the self employees have agreed with the statement that hoarding edible items on large scale can lead to food, shortages and price increases for the general public. [Figure 6]
It is revealed that 13.04% of the respondents belonging to age group 21 to 30 have responded to drive up prices and 10.63% of the respondents belonging to age group 31-40 and 41-50 have responded to exploit market demand during festivals or on special occasions is the primary reason behind hoarding edible Items. [Figure 7]
It is revealed that 16.43% of the postgraduates have felt to drive up prices and 15.46% of them have also responded to gain profit is the primary reason behind hoarding edible items and 10.63% of the respondent whose has no formal education have responded to exploit market demands during festivals or special occasions is the primary reason behind hoarding edible items. [Figure 8]
It is revealed that 23.67% of the the urban residents have responded that to drive up prices and 15.94% of the rural residents have responded to exploit market demands during festivals or special occasions is the primary reasons behind hoarding edible items. [Figure 9]
It is revealed that 15.94% of the respondents belonging to age group 41-50 have responded occasionally and majority of the respondents have responded occasionally they encounter situations where edible items are unavailable or in short of supply in local markets. [Figure 10]
It is revealed that 16.91% of the urban residents have responded very frequently and again 16.91% of urban residents have responded rarely and 10.63% of the rural residents have responded occasionally they encounter situations where edible items are unavailable or in short of supply in local markets. [Figure 11]
It is revealed that the 10.63% of respondents belonging to age group 41-50 and 8.21% of the respondents belonging to age group 21-30 have responded that hoarding edible items affects economically backward life is affected and 7.25% of the respondents belonging to age group above 50 have responded that hoarding edible items makes it harder for the less privileged to access essential food items. [Figure 12]
It is revealed that 14.98% of the female respondents have responded that hoarding edible items cause fluctuations in prices and 13.53% of them have responded increases the cost of living and 14.49% of male respondents have responded that hoarding edible item causes demand. [Figure 13]
It is revealed that 21.74% of the postgraduate respondents have responded that hoarding edible items makes it harder for the less privileged to access essential food items and 10.63% of the no formal education respondents have responded that hoarding edible items affect the economically backward class life. [Figure 14]
It is revealed that 30.43% of the postgraduate respondents have responded neutral on that government in implementing stricter regulations and penalties to prevent hoarding of edible items. [Figure 15]
It is revealed that 19.81% of the unemployed have responded yes and 20.29% of the students have responded no on have they personally been affected by hoarding in terms of increased food prices or decreased availability Of essential items. [Figure 16]
It is revealed that 39.61% of the the urban residents have responded no on have they personally been affected by hoarding In terms of increased food prices or decreased availability of essential items and 6.76% of the rural residents have responded yes on have they personally been affected by hoarding in terms of price increases or in decrease of availability of products. [Figure 17]
It is revealed that 15.46% of the postgraduates have responded that price controls on essential food items and 7.46% of the secondary school graduates have also responded price controls on essential food items would be the best measure that can help in reducing hoarding of edible items. [Figure 18]
It is revealed that 17.87% of the urban residents have responded that strengthening monitoring and 10.63% of the rural residents have responded that price controls on essential food items would help reducing hoarding of edible items. [Figure 19]
It is revealed that 37.68% of the urban residents have responded somewhat confident on the local government’s ability to address issues related to hoarding and 5.31% of the rural resident have responded not very confident on the local government’s ability to address issues related to hoarding. [Figure 20]
DISCUSSION:
It is revealed that 21.74% of the respondents of age group 41 – 50 have responded yes and 20.77% of the respondents belonging to age group 31–40 have also responded yes majority of respondents have responded yes that they have observed and heard about the incidents of hoarding edibles items in their local area this might be because of their knowledge they got at this age about hoarding and they are able to point out the situation in the local market and we could see that the respondents below age a group 20 were aren’t much aware about this as they didn’t have any experience in markets at this age. The respondents from age 31-50 have more experience with the local market and have observed hoarding situations. [Figure 1]
It is revealed that 43.48% of male respondents have responded yes and 28.02% of the female respondents have also responded yes they have observed or heard about Incidents of hoarding edible items in their local area. This shows that male and female both have more connection with the local market. We know that male are more involved in selling the goods or working in the market and even 80% of the mediators and sellers in market are male so they are able to observe hoarding. The females are also involved in buying the products in market and some of the females are even being sellers in the market so they were able to observe and spot hoarding in the markets. [Figure 2]
It is revealed that 66.18% of the urban residents have responded yes and 10.63% of the rural residents have responded no on they have heard or observed incidents of hoarding edible items in their local area. It is clear that the urban residents have observed more than the rural residents this might be because the urban residents might have more knowledge on hoarding than the rural and we know that in urban the literacy rate is higher and in rural the literacy rate in lower this would be the major factor influencing their knowledge and the hoarding might be more in urban than rural so that people would have observed about it. As in rural they might not have much knowledge on hoarding so they were not able to spot it. [Figure 3]
It is revealed that 14.01% of the respondents belonging to age group 31-40 have responded Neutral and 10.63% of the respondents belonging to age group 41 to 50 have Disagreed on the statement and 12.56% of the respondents belonging to age group 21-30 have agreed on the statement that hoarding edible items on large scale can lead to food Shortages and price increases for the general public.increases for the general public this might be because of their experience in this age. We know that hoarding on large scale leads to food shortages and price increases the respondents belonging to age group 31-40 have responded neutral this shows they were not able to conclude a decision this might be because they have less knowledge on it and not able to conclude it. The respondents belonging to age group 41-50 have disagreed on the statement this shows they have less knowledge on hoarding and how it affects the market price. The respondents of age group 21-30 have agreed on the statement this shows that they have more knowledge on hoarding they might have gained it from the education they got and these respondents might be students who are learning about hoarding. [Figure 4]
It is revealed that 15.94% of the postgraduates have strongly agreed and 9.66% of undergraduates have responded neutral and 10.63% of the respondents who has no formal education have strongly disagreed with the statement hat hoarding Edible items on a large scale can lead to food, shortages and price increases for the general public. It is clear that the postgraduate have more knowledge about hoarding this is due to their educational qualification. The postgraduates have educated about hoarding and that’s the reason they have strongly agreed with the statement and the respondents whose has no formal education have strongly disagreed with the statement this shows they don’t have any knowledge about hoarding as their literacy rate is lower and as they didn’t have any education they are not able to agree with the statement. [Figure 5]
It is revealed that 14.49% of the students have agreed with the statement and 10.14% of the self employees have agreed with the statement that hoarding edible items on large scale can lead to food, shortages and price increases for the general public. The students have agreed with the statement this is because they get education and they are aware of hoarding and its impact so they have agreed with the statement. The students have more knowledge about it. The self employees have also agreed with the statement this is because the self employees are much more connected with the markets and they might witness in regular basis when their business process is involved in market so they would have knowledge about hoarding and have agreed with the statement. [Figure 6 ]
It is revealed that 13.04% of the respondents belonging to age group 21 to 30 have responded to drive up prices and 10.63% of the respondents belonging to age group 31-40 and 41-50 have responded to exploit market demand during festivals or on special occasions is the primary reason behind hoarding edible Items. The respondents belonging to age group 21-30 have responded to drive up prices normally hoarding is done to increase the price, when the demand is created artificially and the supply is lesser than before the price of the commodity increases that would make the seller to get some profit so to drive up prices hoarding is done. These age group are mostly of students who also get educated on hoarding. The respondents of age group 31-50 have responded to exploit market demand during festivals or on special occasions is the primary reason behind hoarding edible Items this might be because of their experience with the market these age group people are much involved in market conditions and they might have experienced the conditions more during festival seasons. [Figure 7]
It is revealed that 16.43% of the postgraduates have felt to drive up prices and 15.46% of them have also responded to gain profit is the primary reason behind hoarding edible items and 10.63% of the respondent whose has no formal education have responded to exploit market demands during festivals or special occasions is the primary reason behind hoarding edible items. The postgraduates have responded to drive up prices this might be because of their educational qualification they would have read about it in their studies and they might also have experienced it. The respondents who had no formal education have responded to exploit market demands during festivals or special occasions is the primary reason behind hoarding edible items this might be because of their experience in markets. [Figure 8]
It is revealed that 23.67% of the the urban residents have responded that to drive up prices and 15.94% of the rural residents have responded to exploit market demands during festivals or special occasions is the primary reasons behind hoarding edible items. The urban residents have responded to drive up prices this might be due to their experience and observation and in rural people have felt the demand created and the price increase during festival times and they have come across these situations. [Figure 9]
It is revealed that 15.94% of the respondents belonging to age group 41-50 have responded occasionally and majority of the respondents have responded occasionally they encounter situations where edible items are unavailable or in short of supply in local markets. This might be because they are aware of the hoarding and its impact but they are not able to point it out in the local markets regularly they are able to point it only during some bigger crises taking place like Covid and floods. [Figure 10]
It is revealed that 16.91% of the urban residents have responded very frequently and again 16.91% of urban residents have responded rarely and 10.63% of the rural residents have responded occasionally they encounter situations where edible items are unavailable or in short of supply in local markets. This shows that the hoarding is more in urban than rural. In urban the people literacy rate is higher so they were able to point it out easily and we could able to see that in some parts of the urban people are able to notice and hoarding are more but in few parts it is less and in rural also the people felt it occasionally this might be the hoarding is less in rural or the public is not able to spot it properly. [Figure 11]
It is revealed that the 10.63% of respondents belonging to age group 41-50 and 8.21% of the respondents belonging to age group 21-30 have responded that hoarding edible items affects economically backward life is affected and 7.25% of the respondents belonging to age group above 50 have responded that hoarding edible items makes it harder for the less privileged to access essential food items. Most of the respondents have responded that it would affect the economically backward class people and makes it harder for them to access essential food items this might be because of there experience or they might have been in those situation. When hoarding happens the price of the commodities increases so the economically backward people who has less money would not be able to access the products for higher cost. [Figure 12]
It is revealed that 14.98% of the female respondents have responded that hoarding edible items cause fluctuations in prices and 13.53% of them have responded increases the cost of living and 14.49% of male respondents have responded that hoarding edible item causes demand. As females are involved in purchasing the goods from market and managing the house in terms of market they have faced the price fluctuations and experienced it which would significantly increase the cost of living and male have responded causes demand this might be because of their connection with market and involvement in market.[Figure 13]
It is revealed that 21.74% of the postgraduate respondents have responded that hoarding edible items makes it harder for the less privileged to access essential food items and 10.63% of the no formal education respondents have responded that hoarding edible items affect the economically backward class life. As we already saw that the hoarding affects the backward class people life is affected and makes it harder for the less economic background families this is because hoarding happens the price of the commodities increases so the economically backward people who has less money would not be able to access the products for higher cost. [Figure 14]
It is revealed that 30.43% of the postgraduate respondents have responded neutral on that government in implementing stricter regulations and penalties to prevent hoarding of edible items. From this we could understand the public were not able to make any proper decision on this as they could not tell that government have not made any implementations as because we have the ECA act that gives the laws and rules regarding hoarding but still more the government should implement more stricter regulations. [Figure 15]
It is revealed that 19.81% of the unemployed have responded yes and 20.29% of the students have responded no on have they personally been affected by hoarding in terms of increased food prices or decreased availability of essential items. This is due to their experience, when hoarding takes place the price of the commodity increases, when a person has no work and he is unemployed they would not have much money so when price increases they wouldn’t be able to buy those products and this is how they are affected. The students have responded no this is because they have not much connected with the market they are only educated about it and might haven’t experienced it. [Figure 16]
It is revealed that 39.61% of the the urban residents have responded no on have they personally been affected by hoarding In terms of increased food prices or decreased availability of essential items where 6.76% of the rural residents have responded yes on have they personally been affected by hoarding in terms of price increases or in decrease of availability of products. In urban many people are not concerned with the money they spend but in rural people are much concerned with the money they send. So in urban they are not much affected by hoarding but in rural they are affected by price increases. [Figure 17]
It is revealed that 15.46% of the postgraduates have responded that price controls on essential food items and 7.46% of the secondary school graduates have also responded price controls on essential food items would be the best measure that can help in reducing hoarding of edible items. As postgraduates know much about hoarding and its impact they felt that the price control would be the best way in preventing hoarding and even who has less educational qualification have also felt the same.[Figure 18]
It is revealed that 17.87% of the urban residents have responded that strengthening monitoring and 10.63% of the rural residents have responded that price controls on essential food items would help reducing hoarding of edible items. This shows that the monitoring of hoarding is less in urban and people in rural have felt there should be price controls on the products. [Figure 19]
It is revealed that 37.68% of the urban residents have responded somewhat confident on the local government’s ability to address issues related to hoarding and 5.31% of the rural resident have responded not very confident on the local government’s ability to address issues related to hoarding. The urban residents have responded confident this shows that in urban the local government is effective but the rural people are not very confident this shows that the local government is not much effective in rural.[Figure 20]
CONCLUSION
In the conclusion, public is aware of hoarding edible items but only few are able to point out the situation in a market and sometimes they are not ready to report it. The primary reasons
Behind hoarding is to drive up the market prices and to exploit the market demands during festivals. When there is a demand in the market and if the supply is low then the price of the products get increased so to increase the price the seller creates a artificial demand and increases the demand where eventually the price increases. During festival times the public would be in need of some particular products so the seller would hoard it and create a demand and lesser the supply and sells it with much more profit. Hoarding is more in urban than the rural and it is often seen in urban than rural. Hoarding edible items can affect market prices by causing price fluctuations, demand creating and it also affects the public by making it harder for the economically depressed families and the economically backward public life affects it more as price increases they can afford it and their daily life routine gets disturbed. Most of the respondents have personally affected by hoarding and price controls on edible items can help in reducing the hoarding and strengthening the monitoring would also help in reduce hoarding and public are only somewhat confident on the government ability to address issues on hoarding. There should be more government monitoring on hoarding and government should control the prices and ensure that demand are not created artificially.
LIMITATIONS
Some limitations in this research may include varying definitions and measurements of the phenomenon, cultural taboos affecting reporting accuracy, limited representation of certain demographic groups, and potential bias in self-reported data. Additionally, the constraint in the sample frame is limited.
REFERENCE
PLAGIARISM:
[1] Student; Saveetha School Of Law; Saveetha Institute Of Medical And Technical Sciences(SIMATS);Chennai 600077;Email id:divyasenthil2404@gmail.com
Authors: S.Divya
Registration ID: 102988 | Published Paper ID: WBL2988
Year : July-2024 | Volume: 2 | Issue: 16
Approved ISSN : 2581-8503 | Country : Delhi, India
DOI Link :
