Customers walk past empty racks as toilet paper and tissue are sold out at a supermarket in Hong Kong, Feb 5, 2020.  (PAUL YEUNG / BLOOMBERG)

HONG KONG - Hong Kong police arrested a third suspect Tuesday in connection to the robbery of 50 bags of toilet rolls with a market price of HK$1,640. 

The three suspected toilet roll robbers, aged 50, 55 and 26 are all Hong Kong residents. One of them is suspected to have triad background, said Chief Inspector (Crime) Chau Ka-man, Jeff of Mong Kok District. 

Police are not ruling out more arrests in connection to the case, said Chau. 

Police said they are not ruling out more arrests in connection to the case

The knife-wielding suspects robbed the toilet rolls from a worker who was unloading the goods on the street outside a supermarket in Mong Kok at around 6 am on Monday. They fled the scene carrying the loot on a trolley. 

Two of the suspects were arrested on Monday. 

Police stressed that armed robbery is a serious crime, regardless of the objects and their value. The offense is punishable by up to life imprisonment on conviction. 

The robbery followed weeks of panic buying of foods and daily necessities, including toilet rolls, triggered by rumors that the novel coronavirus outbreak on the mainland would cause shortages of supply. The government has repeatedly refuted the rumors and  assured people that supplies are plentiful.