International Rice Price at Rp 4,940 per Kg (Monday, August 28, 2023)

International rice prices on Monday, August 28, 2023, saw an increase compared to the previous day. Daily transactions for the two-month-ahead contract were traded at USD 16.16 per hundredweight. This is equivalent to approximately Rp 4,940 per kg, calculated using Bank Indonesia's recorded exchange rate of Rp 15,294 per US dollar.

Based on historical data from investing.com, Katadata Insight Center (KIC) calculations show that the average rice price over the last week was USD 15.65 per hundredweight. This average price is lower than the previous week's USD 15.77 per hundredweight.

Meanwhile, monthly rice prices have shown a downward trend over the past 30 days. The average rice price for August was USD 15.78 per hundredweight, a 6.9 percent decrease compared to the previous month's USD 16.95 per hundredweight. The highest average monthly rice price in the past 12 months was recorded in June 2023.