This is not the way supply and demand work. If there is a short-term spike in demand, there is a temporary increase in price, which creates profits for supplier

This is not the way supply and demand work. If there is a short-term spike in demand, there is a temporary increase in price, which creates profits for suppliers. Increased profits draw more supply. In the medium to long run, price is driven to marginal cost (plus a market return on assets employed), and excess profit is eliminated (again, "excess" meaning that beyond market rates of risk adjusted asset returns). The idea that food prices would dramatically increase is kind of strange, because it requires that we have no way to increase supply of food production, despite our demonstrable history of doing exactly that through productivity increases. We had less farmland in 2012 than ten years prior, but the value of output doubled during the same time, so supply is in no way constrained.