West Sulawesi NTP Increases 2.41 Percent in March 2024

Mamuju, 1 April 2024 – The Central Statistics Agency (BPS) of West Sulawesi Province (Sulbar) recorded that the West Sulawesi Farmer Exchange Rate (NTP) in March 2024 had increased by 2.41 percent compared to February 2024.

"The NTP for West Sulawesi in March 2024 was 138.37, an increase of 2.41 percent compared to the NTP in February 2024 which was 135.10," said Head of BPS West Sulawesi, Tina Wahyufitri, in a press release, Monday (1/4).

The increase in West Sulawesi NTP was caused by an increase in the Farmers' Received Price Index (It), which was faster than the increase in the Farmers' Paid Price Index (Ib). It was recorded as increasing by 3.51 percent, while Ib rose by 1.07 percent.

"The increase in IT was driven by rising prices for several main commodities such as grain, cocoa and palm oil," explained Tina.

Meanwhile, the increase in Ib was caused by increases in the prices of several goods and services consumed as well as production costs such as fertilizers, plant medicines and fuel oil.

Based on subsectors, the NTP in March 2024 recorded Food Crops (NTP-P) 107.83, Horticulture 107.47, People's Plantation Crops (NTP-R) 172.57, Livestock (NTP-T) 92.93, Fisheries (NTN- P) 100.32.

"NTP-R experienced the highest increase, namely 4.31 percent, while NTP-T experienced the lowest decrease, namely 0.42 percent," explained Tina.