Chinese Stock Up On Food As Temperatures Fall And COVID-19 Spreads
NDTV
China reported its highest number of new locally transmitted COVID-19 cases in almost three months on Wednesday, including nine new infections in Beijing.
Beijing shoppers stocked up on cabbage, rice and flour for the winter on Wednesday, after the government urged people to keep stores of basic goods in case of emergencies, though it assured them there were sufficient supplies after some panic buying.
China's Ministry of Commerce published a seasonal notice on Monday encouraging authorities to do a good job in ensuring food supplies and stable prices ahead of winter, following a recent spike in the prices of vegetables and a growing outbreak of COVID-19.
But the ministry's advice to households to also stock up on daily necessities in case of emergencies prompted significant confusion, sending some rushing to supermarkets to purchase extra supplies of cooking oil and rice.
China's instructions also pushed up domestic edible oil futures as well as Malaysian palm oil.
