China: Families Asked To Stockpile Food and Daily Necessities Leading to Panic Buying Amid Surging Vegetable Prices, COVID-19 Outbreak

New Delhi, November 2: Chinese families have been encouraged to stockpile daily necessities, prompting panic buying, amid surging vegetable prices linked to recent extreme weather, fears of supply shortages and an ongoing Covid outbreak, The Guardian reported. A notice posted on the website of the Chinese Ministry of Commerce late on Monday urged local authorities to stabilise prices and families "to store a certain amount of daily necessities as needed to meet daily life and emergencies".

It prompted some alarm and speculation, including that it related to increasing tensions with Taiwan. Related hashtags were viewed more than 18 million times, the report said. COVID-19 in China: Beijing Tightens Curbs on Inbound Travel as Coronavirus Cases Surge.

"As soon as this news came out, all the old people near me went crazy panic buying in the supermarket," wrote one user on Weibo. State media urged calm and Zhu Xiaoliang, a senior commerce ministry official, told broadcaster CCTV "the supply of daily necessities is sufficient everywhere," but varying explanations were offered for the notice.

Some said the commerce department often releases such warnings in the weeks before national holidays while the People's Daily said the ministry had issued its instruction earlier this year because of natural disasters, the surge in vegetable prices and recent Covid cases, the report added.

The Economic Daily, a state-backed newspaper, warned residents against having "too much of an overactive imagination" but also said the directive was linked to the outbreak and was to ensure people were prepared in the event of a lockdown.

(The above story first appeared on LatestLY on Nov 02, 2021 10:12 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).