Probably something like the smaller producers sold locally, governing their prices in part by what bigger producers set. Meanwhile, large producer could likely pay for the price discovery, individually or in a group, or they had many contacts which allowed them to have an idea of what would be fair. But it was likely the US was stealing quite a lot as middlemen, which can now be at least atenuated somewhat by having many people trading directly and perhaps even more “state help” to figure out good prices long term.
I would be interested in understanding this better as well, and nice to see that the new system is already being used. Whoever is not using the new system yet will likely do the math to see how good it will be for them.
Probably something like the smaller producers sold locally, governing their prices in part by what bigger producers set. Meanwhile, large producer could likely pay for the price discovery, individually or in a group, or they had many contacts which allowed them to have an idea of what would be fair. But it was likely the US was stealing quite a lot as middlemen, which can now be at least atenuated somewhat by having many people trading directly and perhaps even more “state help” to figure out good prices long term.
I would be interested in understanding this better as well, and nice to see that the new system is already being used. Whoever is not using the new system yet will likely do the math to see how good it will be for them.
Wait, so if that were the case, that price discovery was limited to elite, isn’t that essentially the same thing as price fixing collusion?