Amid concerns over the supply of liquified petroleum gas due to the military conflict in the Middle East, scores of online shoppers are booking induction stoves. This has led to the product turning "unavailable" on leading e-commerce and quick-commerce platforms.
The supply shortage commenced after the flow of ships from the Strait of Hormuz was disrupted due to the war between Iran and the US and Israel.
Blinkit and Swiggy Instamart users noted that when they attempted to buy induction cooktops, the products were flagged as "sold out", "out of stock" or "coming soon".
Induction cookers were listed as 'sold out' on Swiggy Instamart.
Photo Credit: Pratik Mukane/NDTV Profit
It is likely that there was a mass buying of these products leading to the shortage. This is likely due to fact that they are powered by electricity rather than LPG cylinders, making them a viable alternative to the commodity currently facing a scarcity.
The phenomenon was also noted in other online marketplaces such as Flipkart, whose data, cited by Indian Express, indicated that induction cooktop sales have tripled in the past three to four weeks.
ALSO READ: 'Do Not Panic': Centre Urges Public To Stay Calm Amid Commercial LPG Shortage Concerns
Amazon India noted a similar spike in sales, with demand for these cooktops going up 20 times in the last 24 hours compared to how much they were intially sold per day.
India imports more than 60% of its LPG demand and a significant portion of LNG, from overseas with the Gulf region acting as a major source for the commodity. The shortage of LPG is severly impacting households, restaurants and hotels, reports noted.
The domestic LPG (14.2 kg cylinder) prices have also registered a steep increase in Indian cities. The rates, in Tier-1 metro cities such as Delhi and Mumbai, have climbed to Rs 913 and Rs 912.50, respectively. The prices have risen to Rs 939 in Kolkata, Rs 928.5 in Chennai and Rs 915.5 in Bengaluru.
ALSO READ: LPG Gas Cylinder Shortage Updates: Supply Disruption Hits Restaurants — Check Prices
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
