Coronavirus Fears Spark Uptick in Powdered Milk Sales

Retailers in the US are seeing an increase in powdered milk sales as Americans stockpile supplies in response to growing concerns about the coronavirus, several national news organizations reported this week.

Online grocer Instacart Inc. told The Wall Street Journal on Thursday that its sales grew by 20 times in California, Washington, Oregon, and New York, where coronavirus cases have been reported, over a seven-day period that ended last Wednesday. During the period, orders for powdered milk spiked and the product became one of the most-searched items on its platform.

Sales of powdered milk jumped in California, Colorado, Texas, and Washington during the last week of February, CNBC said in report Wednesday, citing research from marketing firm Catalina. In Washington, sales of the product have about quadrupled compared to the same seven-day period in 2019.

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While sales are up in the US, low demand is causing powdered milk prices to slump in China, the biggest importer of the product in the world, according to an update on the outbreak published by the United Nations on Thursday.

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