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Prices spike as virus fears trigger panic buying

An inevitable impact of the coronavirus pandemic has hit Kabul’s fragile economy, triggering a spike in prices of essential commodities as people are panic-buying amid fears of the virus outbreak.
Prices spike as virus fears trigger panic buying
Fearing risks of Kabul’s possible quarantine, people have thronged the markets to buy necessities. This has triggered hoarding and price hike.
Kabul Food Union on Monday told Afghanistan Times that food prices have soared as there isn’t enough foodstuffs in Afghanistan. A union member, Fazl Rahman, said that people have also been panic buying out of fear.
If the government didn’t pay serious attention, the Kabul residents will be in deep trouble, he said, adding that one sack of flour is now priced at 2,500 Afs from the previous 1,600 Afs.
Kabul Municipality has shrugged off the responsibility to control food prices. Ministry of Commerce and Industries was contacted several times for information, but to no avail.
This is as Pakistan which has close trade ties with Afghanistan has shut its borders following the outbreak of coronavirus.
 
 
Tuesday 17 March 2020 09:25
Story Code: 205628 Copy text available
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