The Coronavirus Pandemic (Covid’19), which finds its origin in Wuhan, China, has now found its victims all over the world. Over 3 million people worldwide have been affected and 200,000 have lost their lives. Each and every nation is working tirelessly to minimize the spread of the virus to the best of their abilities. Many countries in coordination with the World Health Organisation (WHO) have initiated nationwide lockdown as a precautionary measure of Social Distancing and Isolation.
The announcement regarding a 21 Day lockdown in India, caused panic buying, after which within an hour, people all over the nation were seen gathered around their nearest grocery stores to stack up essential grains and household commodities, neglecting the key precaution of ‘Social Distancing’. The panic might have triggered due to the lack of information about the continuation of availability of the essentials. As news reports of panic buying flooded the internet and reached the Government, The Ministry of Home Affairs of India, put up a list of guidelines for its citizens, providing all the required information.
The growing demand for essential goods has resulted in a hike in their prices in Bangladesh, where despite assurance from the government regarding normal flow of groceries, supermarkets witnessed long queues of people, stacking up more than what is required.
Australia has witnessed grocers urging buyers to stop hoarding of commodities. After a scuffle arose for a pack of tissue paper, during which a knife was drawn in one of the markets in Sydney, Police officials are now supervising markets. Supermarket shelves are emptying at a faster rate than ever.
French Ministers of Economy and Finance, and Agriculture have been calm and ensured the people that the supply of food products is guaranteed. Italy is suffering with blocked border, economic difficulties, security and concern of labour shortage. However a Colderitti statement showed the Italians a ray of hope, ensuring adequate food production and supply. The British supermarkets saw their sales reach over £10 billion, with sales of essential commodities growing at their fastest rate. A rise of 26% has been seen in the average spending amount of UK residents during March 2020.
Certain reports from the World Food Production (WFP) and Food and Agriculture Organisation (FAO) state that even though the food supply is adequate to fulfil human needs, panic buying may result in a surge of commodity prices and a behavioural change in the food security.
With the USA ranking first on the list, for the highest number of confirmed Covid-19 cases, states all across the country has seen a considerable rise in essential commodities buying spree. States of Utah and Maryland have witnessed increase in purchases by 261% and 124% respectively during the second week of March.
Psychologists and sociologists are calling panic buying a result of common herd mentality. The fear which surrounds the people regarding the pandemic and the uncertainty regarding the cure of the virus is causing anticipatory anxiety. Lack of information and basic awareness is fuelling the fire. These surely are tough times, but they would get tougher if we do not restrain ourselves from hoarding up essentials, in a quantity much more than our necessity. The anxiety, the stress and the emotional turmoil everyone is going through are undeniable, but social isolation should be our prime motto, until better times arrive!
–By Hetvi Mehta
Literary Sources: Business Insider, The Guardian, India Today, ABC News.