Lokam prices up by 40%

1/1/2022 2:22:00 AM

Lokam prices up by 40%

Na

Lokam prices up by 40%

GEORGE TOWN: The joyous arrival of almost 10,000 mandarin oranges – a must-have for Chinese New Year – is slightly tempered by the retail price, which will be up by as much as 40%, no thanks to the disruption to the global logistics chain.

Sunshine Farlim Shopping Mall, which received its first container shipment of lokam yesterday, has fixed the prices for every 4kg crate at RM19.80 (small oranges), RM22.80 (medium), RM26.80 (large) and RM32.80 (extra large).At the last Chinese New Year, the prices were RM12.98 (small), RM14.68 (medium), RM16.98 (large) and RM18.38 (extra large) per 4kg crate.

“The prices can further vary for future shipments due to logistical issues and uncertainties brought about by the Covid-19 pandemic.“The price hike is also because there is a drop of 15% in the lokam harvest this year, which caused an average price increase of 15% to 20%,” he said, adding that L and XL-sized lokam production had dropped by 30%.

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“The upside is that people can expect the mandarin oranges, locally called lokam, to be sweeter this season, owing to less rainfall across farmlands in China,” said Sunshine Wholesale Mart marketing and communication manager Bryan Wong.× Copy URL Chief statistician Mohd Uzir Mahidin says the increase in November 2021 was attributed mainly to the mining index that soared 71.Palm oil bulls to roar into 2022 on labour crunch, La Nina deluge KUALA LUMPUR: The plantation sector outlook in 2022 will continue to be challenged by the environmental, social and governance (ESG) issues, higher taxation, lower export amid bullish crude palm oil (CPO) price projection, say analysts.© 2021 Harian Metro, New Straits Times Press (M) Bhd.

Sunshine Farlim Shopping Mall, which received its first container shipment of lokam yesterday, has fixed the prices for every 4kg crate at RM19.80 (small oranges), RM22.8% decline in November 2020, driven by higher prices for crude oil and natural gas.80 (medium), RM26. This signifies that there is a disconnection between the share prices and the higher CPO price realised by the plantation companies.80 (large) and RM32. THE producer price index (PPI) for local production increased 12.80 (extra large).

At the last Chinese New Year, the prices were RM12.0% in the same month last year, mainly due to the surging cost of raw materials, said the Department of Statistics Malaysia. Going into 2022, the research house envisaged that planters’ will likely post good fourth quarter 2021 and first quarter 2022 results.98 (small), RM14.68 (medium), RM16.2% in contrast to a 45.98 (large) and RM18. Kenanga Research also expects the plantation companies to reward investors with higher dividends, and pare down borrowings or both – thanks to their stronger cash flows.38 (extra large) per 4kg crate. Effective July 2018, access to full reports will only be available with a subscription.

“The prices can further vary for future shipments due to logistical issues and uncertainties brought about by the Covid-19 pandemic. “The price hike is also because there is a drop of 15% in the lokam harvest this year, which caused an average price increase of 15% to 20%,” he said, adding that L and XL-sized lokam production had dropped by 30%. “This will come from improving palm oil output and sizeable soybean harvest in both South and North America. Wong said many farms in China did not produce lokam this year because of high risks and cost, especially with regard to logistics. “Vessel space is precious now. There is a global shortage of containers and missed shipments mean further delays. The research house noted that prices of oil and fats have been facing downward pressure, with CPO moderating from its record levels in October 2021.

As such, many businesses and supermarkets ordered lokam to Malaysia much earlier to counter any eventualities. “Since the end of November, logistics cost has increased from US$2,200 (RM9,181) per container to US$5,900 (RM24,623), and we expect it to increase to US$6,500 (RM27,127) by mid-January,” said Wong. He pointed out that the recent floods in Malaysia had also affected logistics at main seaports as containers could not be released on time. Kenanga Research said any of these, if serious enough, could derail or dampen the forthcoming anticipated supply upswing in 2022. “We are expecting another nine containers. Each has around 9,200 lokam and they should arrive before CNY for our six outlets on the island and mainland,” said Wong.

Article type: metered . “CPO price came in surprisingly high and remained high for longer-than-expected.