International Corn Price at Rp 2572.5 per Kg (Tuesday, August 6, 2024)

International corn prices for the next two-month contract are observed to be rising. Daily trading saw corn priced at USD 402.5 per bushel. Converted to Indonesian Rupiah (IDR), this is equivalent to Rp 2,572.5 per kg. This price is calculated based on the exchange rate recorded by Bank Indonesia, which is Rp 16,230 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 389.93 per bushel. This average price is down compared to the previous week, which was recorded at USD 398.39 per bushel.

Meanwhile, on a monthly basis, corn prices have shown a downward trend over the past 30 days. The average corn price for August was recorded at USD 390.44 per bushel, down 1.96 percent compared to the previous month, which was at USD 398.26 per bushel. The highest average monthly corn price in the last 12 months was recorded in October 2023.