International Corn Price: Rp 2798.8 per Kg (Wednesday, January 24, 2024)

International corn prices for the next two-month contract are observed to be rising. Daily trading saw corn priced at USD 452.25 per bushel. Converted to Indonesian Rupiah (IDR), this is equivalent to Rp 2,798.8 per kg. This price is calculated using the exchange rate recorded by Bank Indonesia, which is Rp 15,720 per dollar.

Based on historical data from Yahoo Finance, Katadata Insight Center (KIC) calculations show that the average corn price over the last week was USD 445.68 per bushel. This average price is lower than the previous week's price of USD 457.25 per bushel.

Meanwhile, for the monthly period, corn prices have shown a downward trend over the past 30 days. The average corn price for January was recorded at USD 453.88 per bushel, down 3.59 percent compared to the previous month's price of USD 470.76 per bushel. The highest average monthly corn price in the last 12 months was recorded in February 2023.