The Central Statistics Agency (BPS) in Indonesia has recently released data on the farmers’ exchange rate, known as the NTP, for the month of April 2023. According to the data, the NTP stood at 110.58, indicating a 0.24 percent decline compared to March 2023.
This drop is said to be due to a decrease in the price index received by farmers, which fell by 0.12 percent to 128.64, while the price index that farmers had to pay rose by 0.13 percent to 116.33.
In a press conference, Margo Yuwono, Head of BPS, explained that the decline in the farmers’ exchange rate was caused by the reduction in the price index received by farmers.
He further revealed that the five dominant commodities influencing the national farmer’s exchange rate were palm oil, cayenne pepper, red chili, shallots, and rice. These commodities experienced a drop in prices, contributing to the decline in the NTP.
However, the NTP for the fisheries sector showed an increase, especially for fishermen, which rose by 0.89 percent. According to Margo, the increase in the NTP for fishermen was due to the rise in the price index received by the farmers, which went up by 0.98 percent, while the price index that farmers had to pay only increased by 0.09 percent. The dominant commodities that influenced the NTP for fishermen were corn, skipjack tuna, blue swimming crab, squid, and blue crab.
On the other hand, the NTP for the horticulture sector showed a decline, specifically by 3.58 percent. The decrease in the NTP was due to the decline in the price index received by farmers, which fell by 3.41 percent, while the price index that farmers had to pay rose by 0.18 percent.
The dominant commodities that affected the decline in the NTP for horticulture were cayenne pepper, red chili, shallots, cabbage, and salak, which also experienced a drop in prices.
The data released by BPS sheds light on the challenges faced by farmers and fishers in Indonesia due to fluctuating prices of essential commodities.
The decline in the NTP for farmers highlights the urgent need for government intervention to stabilize commodity prices and ensure that farmers receive fair compensation for their hard work.
Meanwhile, the increase in the NTP for fishermen shows the potential for growth in the fisheries sector and the importance of supporting this industry to boost the economy.
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