The consumer market in the Kathmandu Valley is now normal following the assurance from the government and the private suppliers that they had a sufficient stock of essential goods, including rice, sugar, salt and cooking gas, for the next couple of months. They made the pledge some days ago in response to the fear among people about the possible outbreak of the novel coronavirus (COVID-19). There was a shortage of daily consumer items in the market which led consumers to panic buying. This type of situation had emerged time and again even in the past. Consumers had to face an acute scarcity of such goods in the market. They were in a great hardship during the adverse situations like the devastating 2015 earthquake followed by the Indian blockade. The artificial shortage resulted in exorbitant price hike and consumers had to bear the brunt of the dearth of essentials.

As per a news report published in this daily on Friday, the market of essential commodities in the capital has returned to normalcy in recent days despite the continuation of the spread of rumours. The consumers were found buying a lot of goods to stock them with the fear of the virus gripping their psyche. In view of that uncertain situation, the government and the business entrepreneurs had tried to take the consumers into confidence by assuring them that the stock of essential items was sufficient. They also said that it was not necessary for consumers to hoard daily consumer commodities. That promise has been effective in removing the panic and hoarding tendencies from general consumers.

The Salt Trading Corporation (STC) outlet based in Kalimati has started witnessing fewer consumers coming to buy essential supplies like rice, sugar and salt these days as compared to a few days ago. They have also stopped purchasing goods in huge quantities. Despite this, the scarcity of cooking gas has not been resolved fully yet. Many consumers still seem to be involved in amassing gas cylinders. However, the STC has adopted the policy of not selling cooking gas to those consumers who visit its sales outlet in Kalimati for more than once daily. Daily sales of STC through its outlets had reached Rs. 1.2 million during the Holi festival due to an increase in the sales due to the fear of the coronavirus. Currently, its sales have turned normal. That the STC outlets’ sales have begun decreasing significantly after the Holi festival indicates a downturn trend among consumers to hoard goods.

The practice of panic buying among consumers becomes rampant when the media, including social media, disseminate the information about the possible scarcity or price rise of goods in the market. Sometimes even traders spread such rumours to take undue advantage of the situation. The state has a bigger role to play in dealing with problems like artificial scarcity of goods and cartelling. There should be a strong and effective market monitoring mechanism in place. Besides, the government must have a more reliable supply and distribution system that alone will help ensure a smooth supply of essentials even during hostile situations.