HONG Kong residents snatched up milk powder and abalone imported
from Japan in fear future items would be tainted with radiation or
be in short supply after a devastating earthquake and tsunami
struck Japan.
A total of 20 kilograms of Japan imported abalones worth nearly
HK$350,000 (US$44,918) were sold within just two hours in a seafood
store in Hong Kong. Some residents started to queue to buy milk
powder in the early morning, further tightening supplies, Hong
Kong-based Sing Tao Daily reported yesterday.
"I have never seen such robust sales," said an individual
surnamed Poon, who manages a seafood store. Around 20 kilograms of
abalone were sold within 2 hours, eight times more than usual.
People just snapped up the products and didn't even look at the
price tag, Poon added.
Customers, mainly Hong Kong residents, stocked up on the goods
as they were afraid the earthquake could affect supplies and that
prices might soar. A lot of abalone producers are along the
northeastern coast of Japan, areas hit severely by the earthquake
and tsunami, Poon said.
Current stocks could last several months and prices might rise
20 to 30 percent after supplies were exhausted, Poon told the
newspaper.
Many parents complained on the Internet that they can not buy
imported Japanese milk powder. Some worried the next batch
transported to Hong Kong might be contaminated by radiation. They
scrambled to either buy current stock or switched to brands
imported from other countries.
A vendor from a Shenzhen-based store on Taobao.com said Japanese
milk powder manufacturers have not yet resumed production. The
vender added they could, for the time being, no longer import such
items from either Japan or Hong Kong.
In his store, an 850-gram can of Meiji infant milk powder was
selling for 160 yuan (US$24) compared to about 140 yuan before the
quake.
