[markdown]

Thank you. Great explanation.

> why can't farmers dictate the price if they have this much bargaining power.

They have political bargaining power, but don't have much bargaining power in the market. This is because most crops are perishable goods. Even with crops like rice (which can be stored by the farmers for an extended period), farmers can't afford to hold on to the goods for long... they need cash to survive.

[nonamechicken]

That's a very good point. Thank you.