International Corn Price at Rp 3,026.5 per Kg (Monday, October 30, 2023)

International corn prices for the next two-month contract are observed to be rising. Daily trading saw corn priced at USD 483 per bushel. Converted to Indonesian Rupiah, this is equivalent to Rp 3,026.5 per kg. This price is calculated using the exchange rate recorded by Bank Indonesia, which is Rp 15,920 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 484.68 per bushel. This average price is lower than the previous week's USD 493.32 per bushel.

Meanwhile, on a monthly basis, corn prices have shown an upward trend over the past 30 days. The average corn price in October was USD 489.12 per bushel, a 3.24 percent increase compared to the previous month's price of USD 473.79 per bushel. The highest average monthly corn price in the last 12 months was recorded in February 2023.