Development of the Bali Province Farmer Exchange Rate Index February 2024

The Farmer Exchange Value Index (NTP) is a comparison of the price index received by farmers (It) to the price index paid by farmers (Ib).

NTP is an indicator to see the level of ability/purchasing power of farmers in rural areas. NTP also shows the exchangeability (terms of trade) of agricultural products for goods and services consumed and for production costs.

The Bali Province NTP Index for February 2024 was recorded at 105.98 or an increase of 2.30 percent compared to conditions in the previous month. The increase in the NTP index was caused by an increase in the Price Index Received by Farmers (It) as high as 3.04 percent, higher than the increase in the Index Paid by Farmers (Ib) which was recorded as high as 0.72 percent.

Nationally, the NTP index was recorded at 120.97 or an increase of 2.28 percent compared to the previous month. In February 2024, the West Sulawesi Province NTP Index recorded the highest increase in NTP, amounting to 4.34 percent. In contrast, Maluku Province's NTP recorded the deepest decline, amounting to -1.73 percent.

The Bali Province Household Consumption Index (IKRT) in February 2024 was recorded at 122.38 or an increase of 0.94 percent compared to the previous month's conditions.

The Agricultural Household Business Exchange Rate (NTUP) for Bali Province in February 2024 was recorded at 110.21 or an increase of 2.88 percent compared to the previous month's NTUP.