BPS: Farmer's Exchange Rate Increases To 111.85 In August 2023

Illustration (Photo: Doc. Antara)

JAKARTA The Central Statistics Agency (BPS) released a Farmer's Exchange Rate (NTP) data in August 2023 perched at 111.85, an increase of 1.09 percent compared to July 2023.

Deputy for Distribution and Services Statistics, Pudji Ismartini, revealed that the price of dry unhulled rice at the farmer level rose 3.62 percent and the price of premium rice in mills rose 1.88 percent.

He said, the Farmer's Exchange Rate is a comparison of the price index received by farmers (It) against the price index paid by farmers (Ib).

NTP is one indicator to see the level of purchasing power of farmers in rural areas. NTP also shows the intermediary (terms of trade) of agricultural products with consumed goods and services as well as for production costs," he said at a press conference today, Friday, September 1.

Pudji explained that the national NTP in August 2023 was 111.85, an increase of 1.09 percent compared to the previous month's NTP.

"The increase in NTP was due to the increase in the price index received by farmers (It) by 1.08 percent, while the price index paid by farmers fell (Ib) by 0.01 percent," he said.

Pudji added that in August 2023 West Sulawesi Province NTP experienced the highest increase (2.47 percent) compared to the increase in NTP for other provinces.

On the other hand, the NTP of South Sumatra Province experienced the largest decline (1.32 percent) compared to the decline in NTP for other provinces.

Meanwhile, last month there was a decrease in the household consumption index (IKRT) in Indonesia by 0.05 percent due to a decrease in the index in the food, beverage and tobacco expenditure group.

Meanwhile, the national agricultural household business exchange rate (NTUP) in August 2023 was 112.55, an increase of 1.02 percent compared to the previous month's NTUP.