May 2024: Impact of Price Changes on Farmers Income and Expenditure

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Illustration of Palm oil smallholders. Photo by: Sawit Fest 2021 / Bachtiar Ilham Ramadhan

PALMOILMAGAZINE, JAKARTA – In May 2024, the Farmers’ Exchange Rate (FER) experienced a 0.06% decrease to 116.71 compared to April 2024, mirroring the decline in the Farmers’ Received Price Index (FRPI), which stood at 141.55, down by 0.16%.

Several commodities, including palm oil, corn, grains, and cayenne pepper, contributed to the decrease in the FRPI, impacting farmers’ income reflected in the declining received price index.

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During the official press conference of the Central Bureau of Statistics (CBS), it was revealed that the farmers’ paid price index decreased by 0.10% to 121.28. This decrease was attributed to commodities such as tomatoes, vegetables, cayenne pepper, and chicken meat.

Also Read: Indonesian Farmers Exchange Rate (FER) Sees December Surge: A Key Indicator of Agricultural Economic Dynamics

The declining prices of these commodities affected the costs incurred by farmers for purchasing goods and services necessary for their agricultural activities.

On the other hand, people’s plantation plants showed the increasing factors, FER in the sub sector in April reached 145,02 and increased 0,33% in May to be 145,50. It showed that the farmers’ income in the sub sector got increased, though some other sectors got decreased. (T2)

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