Farmers’ Terms of Trade (FTT) December 2023 was 117.76 or up 0.88 percent. Dried harvested grain (GKP) price at the farmer level increased by 0.12 percent and the price of premium quality rice at huller level increased by 0.74 percent.

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Release Date	:	January 2, 2024
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Abstract

FTT is ratio of the index of prices received by farmers (It) and the index of prices paid by farmers (Ib).
FTT is an indicator to measure the farmers’ purchasing power parity in rural areas. FTT shows the terms of trade of agricultural products with goods and services consumption and production costs.
In December 2023, national FTT was 117.76 orincreased by 0.88 percent compared with that in November 2023. The increase of FTT was due to the increase in index of prices received by farmers (It) at 1.29 percent higher than the increase in index of prices paid by farmers (Ib) at 0.40 percent.
Nationally, FTT was 112.46 in January–December 2023, with the index of prices received by farmers (It) was 131.59 and the index of prices paid by farmers (Ib) was 117.01.
In December 2023, Sulawesi Tengah Province experienced the highest increase of FTT at 2.22 percent. On the other hand, Maluku Utara Province had the highest decrease of FTT at 0.88 percent.
The price index of household consumption (IKRT) in December 2023 increased by 0.53 percent in Indonesia, which was due to the increase in most of the indexes of expenditure groups.
Nationally, Agriculture’s Terms of Trade (NTUP) was 119.68 in December 2023 or increased by 1.17 percent compared with November 2023.
There were 1,407 paddy sales transactions recorded in 25 provinces during December 2023. The percentage of transactions varied by the quality of the paddy, which was the dried harvested grain (GKP) at 60.55 percent, the dried unhusked grain (GKG) at 30.77 percent, and the other quality at 8.67 percent.
In December 2023, the average GKP price at the farmer level was Rp6,725 per kg, or increased by 0.12 percent, and the average GKP price at the huller level was Rp6,880 per kg, or increased by 0.11 percent compared to the price of similar quality paddy in November 2023. The average price of GKG at the farmer level was Rp7,721 per kg, or increased by 1.70 percent. Meanwhile, at the huller level was Rp7,839 per kg, or increased by 1.73 percent. The price of the other quality paddy at the farmer level was Rp6,513 per kg, or increased by 2.04 percent. While at the huller level was Rp6,629 per kg, or increased by 1.80 percent.
Compared to December 2022, the average price of paddy at the farmer level in December 2023 for GKP, GKG, and the other quality increased by 19.58 percent, 25.21 percent, and 29.37 percent, respectively. At the huller level, the average price of paddy in December 2023 for GKP, GKG, and the other quality increased by 19.70 percent, 24.86 percent, and 29.10 percent, respectively.
In December 2023, the survey of rice producer prices at the huller level was conducted in 31 provinces and recorded 1,093 observations from 868 milling businesses.
Compared to November 2023, the average price of premium quality rice at the huller level in December 2023 was Rp13,348 per kg, or increased by 0.74 percent. The price of medium quality rice at the huller level was Rp13,071 per kg, or increased by 0.86 percent, and the average price of the other quality rice at the huller level was Rp12,530 per kg, or decreased by 0.04 percent.
Compared to the December 2022, the average price of rice at the huller level in December 2023 for premium, medium, and the other quality increased by 21.85 percent, 26.03 percent, and 27.77 percent, respectively.

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