International Corn Price at Rp 4,039.6 per Kg (Tuesday, February 7, 2023)

Agus Dwi Darmawan 08/02/2023 14:49 WIB

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International Corn Price at Rp 4,039.6 per Kg (Tuesday, February 7, 2023)

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Corn Prices Over the Past Three Months

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International corn prices for the next two-month contract are observed to be rising. Daily trading saw corn priced at USD 677.75 per bushel. Converted to Indonesian Rupiah (IDR), this is equivalent to Rp 4,039.6 per kg. This price is calculated using the exchange rate recorded by Bank Indonesia, which is Rp 15,140 per dollar.

Katadata Insight Center (KIC) calculations, based on historical data from Yahoo Finance, show that the average corn price over the last week was USD 679.32 per bushel. This average price is higher than the previous week's USD 675.93 per bushel.

Meanwhile, on a monthly basis, corn prices have shown an upward trend over the past 30 days. The average corn price in February was USD 677.4 per bushel, a 1.13 percent increase compared to the previous month's USD 669.86 per bushel. The highest average monthly corn price in the last 12 months was recorded in May 2022.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."