West Sulawesi Farmers' Exchange Rate Increases 6.81 percent in April 2024

Mamuju, 2 May 2024 – The West Sulawesi Province Central Statistics Agency (BPS) announced that the Farmer Exchange Rate (NTP) in the region will increase in April 2024.

Compared to March 2024, West Sulawesi's April 2024 NTP rose 6.81 percent from 138.37 to 147.80. This increase was driven by an increase in the Farming Products Price Index (It), which was higher than the Consumer Goods and Services Price Index (Ib).

"This increase in NTP shows the increasing purchasing power of West Sulawesi farmers in obtaining their daily needs," said Head of BPS West Sulawesi Province, Tina Wahyufitri

Based on subsector, the highest NTP in April 2024 was achieved in the Community Plantation Crops (NTP-R) subsector at 192.76, followed by the Horticulture Subsector (NTP-H) at 109.32. Meanwhile, the lowest NTP was recorded in the Livestock Subsector (NTP-T) at 93.59.

Furthermore, Tina explained that the increase in NTP in the Community Plantation Crops subsector was caused by an increase in the prices of cocoa and palm oil commodities. Meanwhile, the increase in NTP in the Horticulture Subsector was mainly driven by the increase in commodity prices for red chilies, tomatoes and shallots.

"It is hoped that this increase in NTP can be a positive indicator for increasing the welfare of farmers in West Sulawesi," concluded Tina.