Price of N-95 masks soars by 200% as demand outstrips supply in Belgavi due to coronavirus scare

BELAGAVI: In all, there are five branches of Apollo pharmacy across Belagavi city, and between them, the stores have a stock of 50,000 protective N-95 masks.
However, with the entire country in the grips of the novel coronavirus scare, demand for protective masks is far outstripping their supply.
In two days, nearly 50,000 protective masks have been sold over the counter, while employees at the stores said that the demand for the masks was in excess of one lakh. The sudden spike in demand has, predictably, pushed the price of the masks up but the exponential rise has left residents shellshocked. On average, the price of the masks has shot up by nearly 200%.
As reports of the first confirmed case of the novel coronavirus infection in India started doing the rounds, coupled with a multiplicity of rumours about the same, there has been a mad rush for these protective masks. Despite doctors clarifying that the masks were not necessary, people are continuously thronging pharmacies and stocking up on the accessory. Unable to keep up with the constantly soaring demand, many pharmacies in Belagavi city have stopped selling the masks.
Ramesh, an employee at a branch of Apollo pharmacy, said that his store ran out of protective masks in the course of a day. “Many customers are asking for use-and-throw masks in lieu of N-95 protective masks, which we have run out of,” said Ramesh.
On the prices of the protective masks being marked up at retail outlets, he said that the distributors had hiked the prices. “These masks were available from distributors for Rs 80, but they are selling it to us for Rs 250 to Rs 270. But people are willing to buy them even for this price. They just want protection from Coronavirus,” said Ramesh, admitting to a spike of more than 200% in both the wholesale and retail prices of the N-95 masks.
At Shree Devi Medical Stores in Belagavi, use-and-throw masks flew out of the shelves a mere six hours after a consignment of 200 masks arrived at the outlet, said Nagaraj, an employee there. “We were selling these masks for Rs 6 till a week ago, but the demand is such that they are being sold at Rs 10 to Rs 15. The distributors have jacked up the prices because of rising demand. We placed an order for use-and-throw masks on Thursday afternoon, but I think we will received the stock only on Friday,” he said.
Shantinath Kotari, owner of a private pharmacy, said that supply of both the N 95 and use-and-throw masks had been adversely impacted owing to surplus demand. “These masks are supplied from Kolhapur in Maharashtra. In fact, distributors and pharmacy owners in Kolhapur are calling us and asking if we can spare masks because they are running out of them,” said Kotari.