Stock Groups

Chinese stock up on food as temperatures fall and COVID-19 spreads -Breaking

[ad_1]

© Reuters. FILEPHOTO: A market in Shanghai’s outskirts, China is where two grandmothers trade vegetables with their grandchildren. June 3, 2021. REUTERS/Aly SONG/File photo

Martin Quin Pollard and Dominique Patton

BEIJING (Reuters – Beijing residents stockpiled rice, wheat, and cabbage for winter after government urged them to store basic items in case they were needed. But, the government assured that it had enough supplies.

China’s Ministry of Commerce issued a Monday seasonal notice encouraging officials to ensure food supplies and prices are stable ahead of winter. This was in response to a spike in vegetable prices and an increase in COVID-19.

The ministry advised households that they should also keep an inventory of daily needs in the event of emergency. This caused a lot of confusion and some people rushed to grocery stores to get more cooking oil or rice.

China’s directives also increased domestic edible oil futures and Malaysian Palm Oil.

A woman loaded rice on a bike outside of Beijing’s supermarket, saying “It will be cold winter. We want enough to eat.”

As people purchased supplies of cabbage, which is typically stored in the home for the winter months, there was a long line at the supermarket’s stall.

However, many people said they didn’t need more food than usual.

There is no reason to. How can I store vegetables at home? “I get enough to meet my daily needs,” said Shi, a Beijing retired man who left another Beijing grocery.

Some others said that they didn’t expect shortages in particular the capital.

Ma Wenfeng (an analyst with A.G. Holdings Agricultural Consulting) said that every year the government gives advice to residents about purchasing supplies in advance of winter.

“It’s necessary, because it is common for heavy snow to fall in winter… It seems that there will still be uncertainty about this years weather conditions. “I think that this is a fairly normal situation,” he stated.

The National Meteorological Center of China predicts a drop in temperature over the weekend across the southwest, northwest and central regions.

Public assurance has been a key goal of the state media.

China’s state broadcaster CCTV reported on Tuesday that there had been some “over-interpretation” of the ministry’s advice.

Zhu Xiaoliang (director of the Ministry’s Department of Consumption Promotion) stated that “Currently the supply of daily essentials in different places is sufficient”

Tianjin, in the north, and Wuhan in south release winter vegetables from their stockpiles to be sold at lower prices in supermarkets.

However, panic buying continued on Wednesday with many complaining about empty shelves in supermarkets online. This was largely due to the growing COVID-19 epidemic.

China posted its highest ever number of COVID-19 locally transmitted cases within three months Wednesday. This included nine infections in Beijing. It was the largest one-day rise in this capital since 2013.

“Even bulk rice is gone [shelves]”

There is still uncertainty regarding the possibility of COVID-19-related outbreaks. People’s livelihoods could be affected if an epidemic occurs. People are therefore stocking up on winter items to prevent the effects of COVID-19,” stated Ma at A.G. Holdings.

Chinese authorities respond often to COVID-19 case by closing down whole communities, restricting movement in and out of affected areas, and locking them up.



[ad_2]