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People's Daily Online>>China Society

Milk powder 'panic buying' reappears in HK

(People's Daily Overseas Edition)

15:45, January 18, 2012

Edited and translated by People's Daily Online

Milk powder "panic buying" has appeared once again in Hong Kong.

Due to formula change or package change, some brands of milk powder have delayed their product supplies, leading to between 10 percent and 20 percent rises in their retail prices of milk powder.

In addition, since the "baby boom" of the Dragon Year is coming, the demands for milk powder in Hong Kong and mainland markets has increased, prompting parents in both places to rush to buy milk powder.

The chairman of the Hong Kong General Chamber of Pharmacy Liu Aiguo said that the "baby boom" of the Dragon Year has sharply increased the demand for milk powder in Hong Kong and the mainland.

"The local babies' demand is not scary, because Hong Kong's supply is definitely enough for them. However, Hong Kong's milk powder supply indeed cannot meet the demand from babies and milk power smuggler passengers from the mainland.”

Currently, milk powder smuggler passengers are very active. Many pharmacies are piling up goods and selling them to groups of smuggler passengers and tourists from the mainland at higher prices. Certain retailers have deliberately stored milk power products and sell them to people from the mainland.

The Hong Kong General Chamber of Pharmacy predicts that Hong Kong's supply of milk power will be even tighter after the Spring Festival and Hong Kong has required milk powder manufactures to increase their supplies.

The milk powder manufacturer Mead Johnson Nutrition recently published an advertisement on a newspaper, saying that it will supply 600,000 extra cans of baby formula milk powder in the two weeks before the Spring Festival so that local consumers could buy them from retailers.

The spokesman for the Wyeth also said that the company has increased its supply according to the market demand.

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