National Farmer Exchange Rate Rises 1.23% to 122.78 in December 2024

The Central Statistics Agency (BPS) reported that the combined farmer exchange rate (NTP) reached 122.78 in December 2024, a 1.23% increase from the previous month.

This increase in the combined NTP was driven by a rise in the price index of agricultural output that was higher than the increase in the price index of goods and services consumed by households, as well as production costs and the addition of capital goods.

The combined NTP has shown an upward trend over the past eight months and reached its highest level this year, as shown in the graph.

“More specifically, the price index received by farmers (It) increased by 1.83% to 149.5 in December. Meanwhile, the price index paid by farmers (Ib) only increased by 0.6% to 121.76,” wrote BPS in its release, quoted on Thursday (2/1/2025).

The December NTP increase was influenced by the rise in NTP across all agricultural sectors: the food crop subsector by 0.02%; the horticulture subsector by 5.26%; the people's plantation crop subsector by 2.05%; the livestock subsector by 0.28%; and the fisheries subsector by 0.62%.

The commodities that influenced the increase in the price index received by farmers (It) were palm oil, cocoa/cocoa beans, and paddy rice. Conversely, those that hindered the increase in It were salak (snake fruit), cassava, and petai (bitter bean).