It's a "customer surplus"

Lay aside conspiracy theories. The current ammo shortages is as simple as demand overwhelming supply:

As these words are penned we are experiencing the largest customer surplus in the ammunition market in my lifetime.  More people are buying more ammunition than at any time in recorded history.  It’s not that the ammunition manufacturers slowed or stopped production; they are operating at maximum capacity.  There is a customer surplus, just as you will see before a hurricane makes landfall or when a major snow storm is predicted.  Well, there is a storm brewing in this nation and gun owners who haven’t purchased a box of ammo in a year ran out and bought a thousand rounds last month.

The excerpt is from an article by Paul Markel at Officer.com, a website targeting a police audience. Interesting the article speaks of a storm brewing in the U.S. On the practical side, it also goes on to give training tips for those who want to stay proficient in their shooting skills in times of limited ammo supply.

For those who don't believe ammo is flowing to buyers, check out gunbot.net. Many items sell out just minutes after being listed.