Moves to stop salt hoarding
By Jia Feishang, Zhao Wen and Lu Feiran |
March 18, 2011, Friday
|
Print Edition
Print Edition
China's economic planner told worried shoppers yesterday to stop panic buying salt, blaming baseless rumors that it can stop radiation sickness, even though any fallout from a crippled Japanese nuclear power plant is unlikely to reach the country.
The panic shopping throughout the nation was triggered by claims that iodized salt can help ward off radiation poisoning in the wake of Japan's nuclear emergency.
Rumors in some Chinese cities also say that radiation has leaked into the sea from the Fukushima Dai-ichi nuclear power plant in Japan, compromising the safety of salt taken from the sea in the future.
The National Development and Reform Commission said in an urgent notice yesterday that local price control authorities should counter rumors about shortages and the hoarding of salt, Xinhua news agency reported.
It also pledged ample supplies of salt, saying it would work with relevant agencies to meet market demand and maintain price stability.
Earlier yesterday, China National Salt Industry Corp said the nation has rich salt reserves to meet consumer demands and people need not panic and hoard salt.
Also, China has huge salt reserves and more than 80 percent of the country's salt comes from inland, it said.
The Chinese government has repeatedly said the country's residents will not be exposed to radiation from the plant in northeastern Japan damaged by last Friday's earthquake and tsunami.
The National Marine Environmental Forecasting Center said Pacific Ocean currents out from Fukushima were flowing west to east, away from China. "It is impossible for radioactive substances to reach China's sea areas via the ocean current," it said.
But in a sign of increasing public concern about the risks, people across much of China have been buying large amounts of iodized salt, emptying markets of the usually cheap and plentiful product.
In Shanghai, supermarkets shelves were emptied of salt within minutes of stores opening. On Fumin Road, five stores including a supermarket, a greengrocer's market and three convenience stores all reported salt shortages yesterday.
"Although we take deliveries of salt every morning, it's all sold before noon following rumors that salt will soon be contaminated," said Li Yunfeng, a cashier of Family Mart.
A knock-on effect of salt hoarding is that families cannot get supplies for everyday use. A woman, surnamed Hu, said she had been to six stores looking for salt, without success. "The nuclear crisis is not in Shanghai. I think people are being irrational," said Hu.
As salt supplies ran out, many shoppers stocked up on soy sauce instead.
Panic buying has also pushed up the price of salt. The cost of 500-gram bags of salt jumped to 10 yuan (US$1.52) from 2 yuan at markets in Guangdong Province.
A local resident also told Shanghai Daily that the 2-yuan bag of salt cost 8 yuan at the wet market near her home. And according to a local street vendor, he sold 1,800 500-gram bags of salt in two days at 5 yuan each.
However, taking extra doses of salt would afford little protection against radiation, said experts. Indeed, in extreme circumstances, people could become ill or even die from too much salt, they said.
Yu Fei, a doctor specializing in radiation medicine at the Shanghai No.10 People's Hospital, said: "Consuming salt offers no protection from radiation."
If a person wanted to avoid radiation through ingesting salt containing iodine, they would have to consume 4 to 5 kilograms of salt a day - which is impractical and could make a person very ill, said Yu.
Panic buying has led to a surge in shares of companies making salt-related products.
Yunnan Salt and Chemical Industry Co shares jumped by the daily limit of 10 percent, while Chongqing Fuling Zhacai Group Co, a pickle maker, climbed 7.4 percent.
"The surge is a result of market speculation and has nothing to do with the food industry," said Guo Changsheng, an analyst with Shanghai Securities.
Shanghai Mayor Han Zheng said the current salt shortage was temporary and the city has adequate stores. "We will strengthen our distribution, and local residents will be able to buy salt this morning at supermarkets," he said.
Local authorities will crack down on sellers storing salt to push up prices, added Han.
Meanwhile, www.taobao.com, China's largest online shopping platform, has asked all shops to stop selling salt in order not to cause further panic.
Some Taobao stores yesterday sought to attract customers by offering free salt to buyers of unrelated products.
The panic shopping throughout the nation was triggered by claims that iodized salt can help ward off radiation poisoning in the wake of Japan's nuclear emergency.
Rumors in some Chinese cities also say that radiation has leaked into the sea from the Fukushima Dai-ichi nuclear power plant in Japan, compromising the safety of salt taken from the sea in the future.
The National Development and Reform Commission said in an urgent notice yesterday that local price control authorities should counter rumors about shortages and the hoarding of salt, Xinhua news agency reported.
It also pledged ample supplies of salt, saying it would work with relevant agencies to meet market demand and maintain price stability.
Earlier yesterday, China National Salt Industry Corp said the nation has rich salt reserves to meet consumer demands and people need not panic and hoard salt.
Also, China has huge salt reserves and more than 80 percent of the country's salt comes from inland, it said.
The Chinese government has repeatedly said the country's residents will not be exposed to radiation from the plant in northeastern Japan damaged by last Friday's earthquake and tsunami.
The National Marine Environmental Forecasting Center said Pacific Ocean currents out from Fukushima were flowing west to east, away from China. "It is impossible for radioactive substances to reach China's sea areas via the ocean current," it said.
But in a sign of increasing public concern about the risks, people across much of China have been buying large amounts of iodized salt, emptying markets of the usually cheap and plentiful product.
In Shanghai, supermarkets shelves were emptied of salt within minutes of stores opening. On Fumin Road, five stores including a supermarket, a greengrocer's market and three convenience stores all reported salt shortages yesterday.
"Although we take deliveries of salt every morning, it's all sold before noon following rumors that salt will soon be contaminated," said Li Yunfeng, a cashier of Family Mart.
A knock-on effect of salt hoarding is that families cannot get supplies for everyday use. A woman, surnamed Hu, said she had been to six stores looking for salt, without success. "The nuclear crisis is not in Shanghai. I think people are being irrational," said Hu.
As salt supplies ran out, many shoppers stocked up on soy sauce instead.
Panic buying has also pushed up the price of salt. The cost of 500-gram bags of salt jumped to 10 yuan (US$1.52) from 2 yuan at markets in Guangdong Province.
A local resident also told Shanghai Daily that the 2-yuan bag of salt cost 8 yuan at the wet market near her home. And according to a local street vendor, he sold 1,800 500-gram bags of salt in two days at 5 yuan each.
However, taking extra doses of salt would afford little protection against radiation, said experts. Indeed, in extreme circumstances, people could become ill or even die from too much salt, they said.
Yu Fei, a doctor specializing in radiation medicine at the Shanghai No.10 People's Hospital, said: "Consuming salt offers no protection from radiation."
If a person wanted to avoid radiation through ingesting salt containing iodine, they would have to consume 4 to 5 kilograms of salt a day - which is impractical and could make a person very ill, said Yu.
Panic buying has led to a surge in shares of companies making salt-related products.
Yunnan Salt and Chemical Industry Co shares jumped by the daily limit of 10 percent, while Chongqing Fuling Zhacai Group Co, a pickle maker, climbed 7.4 percent.
"The surge is a result of market speculation and has nothing to do with the food industry," said Guo Changsheng, an analyst with Shanghai Securities.
Shanghai Mayor Han Zheng said the current salt shortage was temporary and the city has adequate stores. "We will strengthen our distribution, and local residents will be able to buy salt this morning at supermarkets," he said.
Local authorities will crack down on sellers storing salt to push up prices, added Han.
Meanwhile, www.taobao.com, China's largest online shopping platform, has asked all shops to stop selling salt in order not to cause further panic.
Some Taobao stores yesterday sought to attract customers by offering free salt to buyers of unrelated products.
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