West Sulawesi Farmers' Exchange Rate Increases 4.34% in February 2024

Mamuju, 1 March 2024 – The Central Statistics Agency (BPS) of West Sulawesi Province (Sulbar) released data on the West Sulawesi Farmer Exchange Rate (NTP) for February 2024 which showed an increase of 4.34% compared to January 2024.

"The increase in NTP was caused by an increase in the Price Index Received by Farmers (It) which was faster than the Price Index Paid by Farmers (Ib)," said Head of BPS West Sulawesi, Tina Wahyufitri, in a news release received in Mamuju, Wednesday (1/3 ).

Tina explained, It for February 2024 was recorded at 161.23 or an increase of 4.40% compared to January 2024. Meanwhile, Ib was recorded to have increased by 0.06% to 119.34.

"The increase in NTP shows that the exchangeability (terms of trade) of West Sulawesi agricultural products for goods and services consumed and for production costs is getting stronger," explained Tina.