Prices for mandarin oranges or lokam may be up to 40% higher this year, according to a major local wholesaler.

Sunshine Farlim Shopping Mall, a major Penang retailer, has announced its lokam prices for this year, and they are substantially higher. Its prices for each 4kg crate are RM19.80 (small oranges), RM22.80 (medium), RM26.80 (large) and RM32.80 (extra large). Last year, each 4kg crate retailed for RM12.98 (small), RM14.68 (medium), RM16.98 (large) and RM18.38 (extra large). Overall, this year’s lokam prices are between 34% to 44% higher compared to last year at Sunshine Farlim.

Prices for lokam will likely be higher at other retailers as well. According to Sunshine Wholesale Mart marketing and communication manager Bryan Wong, several factors are behind this considerable hike in prices.

“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.

On top of that, many farms in China did not produce lokam this year due to high risks and costs. Wong added that the global shortage of containers led to higher freight costs – in November 2021, shipping rates were US$2,200 (around RM9,200) per container but current rates are at US$5,900 (RM24,600) per container.

(Source: The Star)

• TAGS:
• Chinese New Year
• Lokam
• Mandarin Orange
• Sunshine Farlim