West Sulawesi Farmers' Exchange Rate Drops 3.13 Percent in May 2024

Mamuju, 3 June 2024 – The Central Statistics Agency (BPS) of West Sulawesi Province (Sulbar) recorded a decrease in the Farmer's Exchange Rate (NTP) in West Sulawesi in May 2024 of 3.13 percent compared to April 2024.

"The decrease in NTP was caused by a decrease in the Production Price Index (It) by 2.92 percent, while the Price Index for Farmer Consumption Goods and Services (Ib) increased by 0.22 percent," said the Head of BPS West Sulawesi, Tina Wahyufitri, in a press release. which is being held today.

The West Sulawesi Farmers' Exchange Rate (NTP) in May 2024 reached 143.16, down from 147.80 in April 2024. The decline in NTP occurred in almost all subsectors, except for the Community Plantation Crops Subsector which experienced an increase.

"The decline in NTP in the food crops and horticulture subsector was mainly caused by the bumper harvest which caused the price of grain and several horticultural commodities to decline," explained Tina.

Meanwhile, the increase in NTP in the Community Plantation Crops Subsector was caused by an increase in the prices of several plantation commodities such as palm oil, cocoa and coffee.

"Despite the decline, West Sulawesi's NTP in May 2024 will still be above 100, which means farmers still have stable purchasing power," said Tina.

BPS West Sulawesi is optimistic that NTP in West Sulawesi will recover in the next few months, in line with improving prices of several agricultural commodities.