Coronavirus threat: Price of Chinese goods up 15 per cent

In addition to affecting peoples health worldwide the novel Coronavirus COVID19 is also affecting the import business of several Mumbaikars Wholesalers and retailers from the city and the Mumbai Metropolitan Region MMR dealing in Chinese goods are witnessing a slump in stocks and an uncertain future as shipments from the country have stopped coming inThe arrival of seven ships from China between February and March at JNPT Jawaharlal Nehru Port has been cancelled Fastmoving Chinese products like mobile covers accessories phones electronic items clothes etc have seen a price hike of almost 10 to 15 per cent in the last couple of weeksDeven and Jasmin run a small retail business of Chinesemade utility productsTraders also fear an increase in freight rates on shipments coming from China when trade resumesMira Road resident Sameer Lalani 33 has a wholesale business of Chinese plastic and home utility products His work involves visiting Chinas Yiuw market known as the worlds largest small commodity wholesale market every three months Lalani sells his wares on the website wholesaledockcomThe last stock I received was in the second week of January I had placed the order in Yiuw personally in September last year It usually takes 20 to 25 days for the shipment to arrive at JNPT after being loaded on a ship in China The stock I have will last for a few more weeks said LalaniLalani explained that he placed the additional order as he was aware that it would be delayed due to the Chinese New Year celebrations and extended holidays The epidemic has left me with no choice but to hope for the best Lalani saidHe was informed by a middleman operating in Yiuw that the market has reopened but there are no finished products coming from Chinese factories Lalani said that he will not be visiting China for at least the next few monthsAnother couple Deven and Jasmin Jadav who procure Chinese products for their small circle of customers are apprehensive about the slump A blogger by profession Deven set up a workfromhome business for his wife JasminSome of the products sold on Lalanis website wholesaledockcomWe earn decently through regular orders from known customers and shopping portals We rely on a wholesaler for the stock but there is no new material coming in This is a second income for many families like ours I hope trade picks up soon Deven saidPorts on alertWe have been following the directions of the Ministry of Shipping International crew members onboard cargo ships entering JNPT are being screened by the port health officer PHO A thermal scanner has been installed and screening reports are being sent to the union government Some cargo vessels especially containers originating from China and crossing Malaysia Singapore and Colombo have rescheduled their calls to JNPT said a JNPT spokesperson on condition of anonymityWe must understand that China is the biggest importer of raw materials like iron ore coal etc Around 30 per cent of the dry cargo is destined for China It is also the worlds largest importer of crude oil followed by the United States and then India There is no raw material reaching there said a shipping expertThe expert who works for a shipping company explained that measures are being taken on cargo ships going to Chinese ports with the crew not allowed to venture out We too have a ship going to China but our crew has to follow a strict protocol The epidemic has also impacted revenue earning for most freight and cargo carriers he saidAs the industry is expecting the epidemic to be resolved by March end it is expected trade will resume by April There may be a huge inflow of goods from Chinese industries when the market reopens This may cause a temporary increase in freight ratesCatch up on all the latest Crime National International and Hatke news here Also download the new midday Android and iOS apps to get latest updates