Jakarta –
South Korea hit panic buying. But the goods purchased are not food, but urea which is used to reduce emissions in diesel and industrial cars.
Quotes Reuters, Friday (12/11/2021), panic buying This happened because the government implemented a rationing of purchasing urea solution. Passenger vehicles are limited to a maximum of 10 liters and 30 liters for commercial vehicles.
The government also prohibits the resale of urea solution products. This policy is likely to be implemented until the end of the year.
Manufacturers and sellers are also required to report all import, production, sales and inventory data to the government on a daily basis. The South Korean government also banned exports of these products.
Sales of urea solution are only allowed at gas stations with the exception that the supplier of urea solution obtains prior permission from the authorities.
Diesel car drivers are required to provide their car identification and registration number when purchasing urea solution at gas stations.
South Korean Prime Minister Kim Boo-kyum also apologized for this. He acknowledged failing to anticipate shortages and said it would take time to normalize.
For your information, South Korean people, especially diesel vehicle drivers, began to panic buying urea solution after Chinese customs last month introduced new export requirements.
The policy effectively stopped exports in order to increase its domestic supply. According to trade data for the January-September period, nearly 97% of South Korea’s urea products come from China.
See also Video: Spike in Covid-19 Cases in China
(the / ara)
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