With the detection of two more cases of coronavirus in the country, many people are getting increasingly worried and have started stockpiling essentials in order to avoid going out in public.
Consumers are bulk buying daily essentials including food items such as rice, onion, ginger, garlic, etc. consumers are buying essentials in large quantities in order to avoid coming into the market place multiple times. The price of rice has already doubled due to the increased demand for it. Many consumers are buying enough groceries to last a month, which may cause a shortage in the market.
Consumers in other countries affected by coronavirus have been similarly panic buying essentials, leading to department store shelves being emptied out. Many are also flocking to super shops instead of kitchen markets due to fears of coronavirus transmission from live animals.
At this stage, it is crucial for the authorities
to calm the general public and
discourage them from panic buying
At this stage, it is crucial for the authorities to calm the general public and discourage them from panic buying. This sort of hoarding can lead to severe price hike of essentials and market shortage. Already traders have raised prices of some daily commodities fearing that imports from China will be hampered after a certain period due to the impact of coronavirus.
Authorities concerned should to closely monitor the price of goods in the market and be on the lookout for artificial price hike created by traders. Price regulation is crucial at this point it time, with the rising price of commodities as the month of Ramadan approaches. The government should prepare for a food shortage beforehand and
export additional quantities of essential goods well in advance.
