With stock depleting and no fresh consignments arriving in from China, traders are hoping the situation eases soon
Wholesaler Sameer Lalani at China's Yiuw market during an earlier visit
In addition to affecting people's health worldwide, the novel Coronavirus (COVID-19) 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 in.
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The arrival of seven ships from China between February and March at JNPT (Jawaharlal Nehru Port) has been cancelled. Fast-moving 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 weeks.
Deven and Jasmin run a small retail business of Chinese-made utility products
Traders also fear an increase in freight rates on shipments coming from China when trade resumes.
Mira Road resident Sameer Lalani, 33, has a wholesale business of Chinese plastic and home utility products. His work involves visiting China's Yiuw market, known as the world's largest small commodity wholesale market, every three months. Lalani sells his wares on the website wholesaledock.com.
"The 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 Lalani.
Lalani 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 said.
He was informed by a middle-man 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 months.
Another 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 work-from-home business for his wife Jasmin.
Some of the products sold on Lalani's website, wholesaledock.com
"We 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 said.
Ports on alert
"We have been following the directions of the Ministry of Shipping. International crew members on-board 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 anonymity.
"We 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 world's largest importer of crude oil, followed by the United States and then India. There is no raw material reaching there," said a shipping expert.
The 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 said.
As 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 rates."
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