West Sulawesi Farmers' Exchange Rate Increases Significantly in June 2024

Mamuju, 1 July 2024 – The West Sulawesi Province Central Statistics Agency (BPS) reported a significant increase in the West Sulawesi Farmer Exchange Rate (NTP) in June 2024. The NTP reached 148.56, an increase of 3.77 percent compared to May 2024.

"This increase in NTP shows the strengthening of farmers' purchasing power in West Sulawesi," said Head of BPS West Sulawesi Province, Tina Wahyufitri, in an official release today.

The increase in NTP was driven by an increase in the Price Index Received by Farmers (It) of 4.14 percent, which was higher than the increase in the Price Index Paid by Farmers (Ib) of 0.35 percent.

"The increase in IT was mainly caused by the increase in prices of smallholder plantation and horticultural commodities," explained Tina.

In detail, the NTP for the People's Plantation Crops subsector (NTP-R) reached 195.72, being the subsector with the highest NTP. Meanwhile, the NTP for the Livestock subsector (NTP-T) was recorded at 94.52, being the subsector with the lowest NTP.

West Sulawesi Province BPS will continue to monitor NTP developments and provide the latest information to the public as a basis for policy making.