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This research was aimed to examine the relevance of the Farmers? Term of Trade (FTT) formula (Modified Laspeyres) by comparing with the Modified Laspeyres Plus and the Fisher-WM formulas. The result presented that FTT of Food Crop applying Fisher-WM had nearly similar patterns with the Modified Laspeyres, while the Modified Laspeyres Plus tended to fluctuative patterns. The FTT Fisher-WM had similar pattern with share of nonfood expenditure, farmers? purchasing power, and farming cost. Foreasting of FTT (Fisher-WM) showed nearly similar result with FTT of BPS-Statistics Indonesia published in October and November 2013. The welfare quality of the food crop farmers in West Java, Banten, and DIY provinces was categorized as high welfare level; in Central and East Java provinces was categorized as middle welfare level; in Bali, West and East Nusa Tenggara provinces was categorized as low welfare level. Based on the results, the Modified Laspeyres formula has been still relevant to be applied, except in revealing the seasonal pattern of food crop production as shown by the Fisher-WM. |
