People catch ‘hoarding bug' on lockdown fears
Business Standard|March 19, 2020
“It is a good idea to buy for a month. No one knows what will happen tomorrow — whether grocery will be available at all or at what prices they will be sold,” says Sumit Samaddar, a resident of south Kolkata.
People catch ‘hoarding bug' on lockdown fears

Samaddar was among the thousands to have thronged the neighbourhood kiranas and retail chains in the past few days. He’s aggressively stocking essential food items fearing a lockdown in case the coronavirus crisis escalates. Even online grocery companies have seen a spike in orders.

These stores have reduced their restocking duration to meet the surge in demand — largely comprising wheat flour, rice, sugar, edible oils, pulses, and vegetables like onion and potatoes. Some are advising buyers to revisit as stocks run out. “Large stores have closed down. What if small shops close, too? We are buying essentials to be prepared in case there is a shutdown,” an elderly customer at one of the shops in Chennai said.

In Kolkata, where a large part of the population consumes non-vegetarian food, people are frantically buying canned food. Even in such times, demand for poultry products has hit a low due to false fears over COVID-19 spreading through their consumption.

Shambhu Nath Das, owner of a large-format Kirana store in Delhi’s Chittaranjan Park, is planning to bring his nephew from the village to manage the frenzy. He says sales have gone up 25 per cent in the past few days and doorstep delivery has peaked.

This story is from the March 19, 2020 edition of Business Standard.

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This story is from the March 19, 2020 edition of Business Standard.

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