A Qualitative Approach of Identifying Major Cost Influencing Factors in Palm Oil Mills and the Relations towards Production Cost of Crude Palm Oil

The purpose of this study was to know the competitiveness of Indonesia’s CPO exports in the world and strategies to increase Indonesia’s CPO competitiveness. The required data is secondary data from the report of CPO export in Indonesia in 1993-2017. This research-based on the background by the issue of palm oil discrimination by the European Union, where Europe is one of Indonesia’s main CPO export destinations. This research uses a qualitative-quantitative approach, analysis with a quantitative approach is used to analyze the comparative advantage of Indonesia’s palm oil in the international market used RCA. Analysis with a qualitative approach is used to analyze which strategies will be used to improve the competitiveness of Indonesian palm oil. The results of the study show that in 2017 export performance of Indonesia’s palm oil increased. It showed by the value of RCA>1 which is 55,47 and an average of 37,22, Indonesia has the competitiveness of palm oil because of the increased export volume of palm oil to the major importer countries, such as India, Pakistan, and Europe. Indonesia’s still competitive in Europe and Asia’s market based on the average value of the RCA index.

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PENERAPAN METODE CUP PADA TRANSAKSI CPO ANTARA PIHAK-PIHAK YANG MEMILIKI HUBUNGAN ISTIMEWA

Jurnal Pajak dan Keuangan Negara (PKN) ◽

10.31092/jpkn.v1i2.791 ◽

2020 ◽

Vol 1 (2) ◽

pp. 81-96

Author(s):

Umar Faruq ◽

Arif Nugrahanto

Keyword(s):

Palm Oil ◽

Market Price ◽

Oil Industry ◽

Qualitative Approach ◽

Business Strategies ◽

Economic Conditions ◽

Crude Palm Oil ◽

Futures Trading ◽

West Kalimantan ◽

Tax Court

This study attempts to analyze the criteria for reliable market price comparable in the implementation of the Uncontrolled Price (CUP) method for Crude Palm Oil industry. Using qualitative approach and analysis of 4 appeal decisions in the tax court resulted in the conclusion that the credibility of the market price comparable is very substantial. Credibility can be seen from several aspects. That is the independency and transparency of institusion which provide the market price data. How the market price is formulated and usage range of the market price data.In the 14 court decisions, the highest credibility of comparative data for CPO commodity is provided by the Commodity Futures Trading Regulatory Agency (Bappepti), the Provincial Plantation Office. West Kalimantan (Dinas Perkebunan Prov. Kalbar), and KPB PTPN.In addition, this study also discusses the method of applying CUP in CPO industry. Among the five comparability factors, the most important aspects to consider are the product characteristics and contractual terms. While other factors, such as Functional analysis and risk (FAR), economic conditions, and business strategies have been reflected in the market price of CPO products.Penelitian ini bertujuan untuk menganalisis kriteria pembanding harga pasar yang andal dalam penerapan metode Comparable Uncontrolled Price (CUP) pada transaski jual beli komoditas Crude Palm Oil (CPO). Dengan menggunakan pendekatan kualitatif, analisis terhadap 4 risalah putusan banding di pengadilan pajak menghasilkan kesimpulan bahwa kredibilitas data pembanding dalam penentuan harga transaksi pada transaksi hubungan istimewa menjadi faktor yang sangat substantial. Kredibilitas tersebut dapat dilihat dari aspek independensi dan transparansi dari pihak yang mengeluarkan data pembanding, aspek pembentukan harga yang mencerminkan kesepakatan antara penjual dan pembeli yang terbentuk secara independent, dan cakupan serta intensitas penggunaan data pembanding tersebut.Dalam 14 putusan Pengadilan Pengadilan yang dianalisis, kredibilitas tertinggi data pembanding untuk komoditas CPO berturut-turut disediakan oleh Badan Pengawas Perdagangan Berjangka Komoditi (Bappepti), Dinas Perkebunan Prov. Kalbar, dan KPB PTPN.Selain itu, penelitian ini juga mengidentifikasi bahwa dalam penerapan metode CUP pada transaksi komoditas CPO, diantara lima faktor kesebandingan, aspek yang paling penting untuk diperhatikan adalahaspek karakteristik produk dan aspek ketentuan kontrak (contractual terms). Sedangkan factor-faktor lain, seperti analisis fungsional (FAR), kondisi ekonomi, dan strategi bisnis telah tercermin dalam harga jual produk CPO.

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Cost Of Production Analysis and Break Event Point of Crude Palm Oil Production On PT. Sandabi Indah Lestari

Agric ◽

10.24246/agric.2018.v30.i1.p1-14 ◽

2018 ◽

Vol 30 (1) ◽

pp. 1-14

Author(s):

Ika Ariyanti ◽

Bambang Sumantri ◽

Sriyoto Sriyoto ◽

Eko Sumartono

Keyword(s):

Palm Oil ◽

Production Cost ◽

Design Research ◽

Descriptive Analysis ◽

Labor Cost ◽

Raw Material ◽

Variable Cost ◽

Fixed Cost ◽

Crude Palm Oil ◽

Cost Of Production

To determine the exact cost of production, the compony must take into account precisely the elements of the production cost. Elements of the production cost on the research is raw material cost, direct labor cost, and manufacture overhead cost. Break event point analysis relate to sale, fixed cost, and variable cost. All of these cost are costs associated with the production process of Crude Palm Oil. Make, this research count the cost of production and break event point Crude Palm Oil PT. Sandabi Indah Lestari (PT. SIL) from 2009-2014.This research uses design research of descriptive analysis and quantitaive analysis. Cost of production CPO to use method of full costing because used data represent and have passed accounting period. Cost of production and break event point of the research analysed in 2 form that is on the basis of rupiah and on the basis unit. Result of research indicate that sales revenue of CPO more than cost of production and break event point in rupiah and also in unit. Matter this means that company have obtained profit of production.

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Analysis of World Crude Palm Oil Prices on the Real Exchange Rate: A Case Study of Indonesia and Malaysia

International Centre of Economics, Humanities and Management (ICEHM) May 29-30, 2015 London (UK) ◽

10.15242/icehm.ed0515510 ◽

2015 ◽

Keyword(s):

Exchange Rate ◽

Real Exchange Rate ◽

Palm Oil ◽

Oil Prices ◽

Crude Palm Oil ◽

The Real

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The Analysis of Potential of Straw Mushroom Development by Using Empty Fruit Bunches Material in Lampung Province

Journal of Engineering and Scientific Research ◽

10.23960/jesr.v1i2.16 ◽

2019 ◽

Vol 1 (2) ◽

Author(s):

Sarono Sarono

Keyword(s):

Palm Oil ◽

Efficiency Ratio ◽

Crude Palm Oil ◽

Production Scale ◽

Empty Fruit Bunches ◽

Straw Mushroom

The empty fruit bunches (EFB) are by-product of crude palm oil (CPO) production, and it is not widely used optimally. One of products produced from EFB with development potentials is straw mushroom. The objective of this research was to analyze the potentials of EFB material and straw mushroom based on EFB material in Lampung province. The result showed that the EFB potential in Lampung province was 111,144 ton annually and straw mushroom was 4,835 ton annually. The biology efficiency ratio of EFB into straw mushroom in production scale was averagely 3.93%. Districts having potentials for developing straw mushroom business by using EFB material were Mesuji, Middle Lampung, Tulang Bawang, Way Kanan, and North Lampung.

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EFFECTIVE CROSS HEDGING: EVIDENCE FROM PHYSICAL CRUDE PALM OIL AND ITS INTER-RELATED AGRICULTURAL FUTURES CONTRACTS

Management and Accounting Review (MAR) ◽

10.24191/mar.v17i2.812 ◽

2018 ◽

Vol 17 (2) ◽

pp. 123

Author(s):

Noryati Ahmad ◽

Ahmad Danial Zainudin ◽

Fahmi Abdul Rahim ◽

Catherine S F Ho

Keyword(s):

Palm Oil ◽

Futures Contracts ◽

Crude Palm Oil ◽

Oil Futures ◽

Futures Contract ◽

Agricultural Futures ◽

Cross Hedging ◽

Optimal Hedge ◽

Excessive Speculation ◽

Chicago Board Of Trade

Since its establishment, Crude Palm Oil futures contract (FCPO) has been used to directly hedge its physical crude palm oil (CPO). However, due to the excessive speculation activities on crude palm oil futures market, it has been said to be no longer an effective hedging tool to mitigate the price risk of its underlying physical market. This triggers the need for market players to find possible alternatives to ensure that the hedging role can be executed effectively. Thus this investigation attempts to examine whether other inter-related grains and oil seed futures contracts could serve as effective cross-hedging mechanisms for the CPO. Weekly data of inter-related futures contracts from Chicago Board of Trade (CBOT) and Dalian Commodity Exchange (DCE) are employed to cross hedge the physical crude palm oil prices. The study starts from 2006 until 2016. Empirical results indicate that FCPO is still the best futures contract for hedging purposes while Chicago Soybean (CBOTBO) provides second best alternative if cross-hedging is considered. Keywords: Crude palm oil, Crude palm oil futures, Cross Hedging, Optimal Hedge Ratio, Effective Hedging

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A COMPARATIVE STUDY BETWEEN UNIVARIATE AND BIVARIATE TIME SERIES MODELS FOR CRUDE PALM OIL INDUSTRY IN PENINSULAR MALAYSIA

MALAYSIAN JOURNAL OF COMPUTING ◽

10.24191/mjoc.v5i1.6760 ◽

2020 ◽

Vol 5 (1) ◽

pp. 374

Author(s):

Pauline Jin Wee Mah ◽

Nur Nadhirah Nanyan

Keyword(s):

Time Series ◽

Palm Oil ◽

Moving Average ◽

Forecast Accuracy ◽

Peninsular Malaysia ◽

Time Series Models ◽

Crude Palm Oil ◽

Univariate Time Series ◽

Import And Export ◽

Bivariate Time Series

The main purpose of this study is to compare the performances of univariate and bivariate models on four time series variables of the crude palm oil industry in Peninsular Malaysia. The monthly data for the four variables, which are the crude palm oil production, price, import and export, were obtained from Malaysian Palm Oil Board (MPOB) and Malaysian Palm Oil Council (MPOC). In the first part of this study, univariate time series models, namely, the autoregressive integrated moving average (ARIMA), fractionally integrated autoregressive moving average (ARFIMA) and autoregressive autoregressive (ARAR) algorithm were used for modelling and forecasting purposes. Subsequently, the dependence between any two of the four variables were checked using the residuals’ sample cross correlation functions before modelling the bivariate time series. In order to model the bivariate time series and make prediction, the transfer function models were used. The forecast accuracy criteria used to evaluate the performances of the models were the mean absolute error (MAE), root mean square error (RMSE) and mean absolute percentage error (MAPE). The results of the univariate time series showed that the best model for predicting the production was ARIMA while the ARAR algorithm were the best forecast models for predicting both the import and export of crude palm oil. However, ARIMA appeared to be the best forecast model for price based on the MAE and MAPE values while ARFIMA emerged the best model based on the RMSE value. When considering bivariate time series models, the production was dependent on import while the export was dependent on either price or import. The results showed that the bivariate models had better performance compared to the univariate models for production and export of crude palm oil based on the forecast accuracy criteria used.

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PEMANFAATAN CPO ASAM LEMAK BEBAS TINGGI SEBAGAI BAHAN BAKAR

Jurnal Energi dan Lingkungan (Enerlink) ◽

10.29122/elk.v11i1.1591 ◽

2015 ◽

Vol 11 (1) ◽

Author(s):

Zulaicha Dwi Hastuti ◽

Dwi Husodo Prasetyo ◽

Erlan Rosyadi

Keyword(s):

Palm Oil ◽

Crude Palm Oil ◽

Plant Oil

Asam lemak bebas (alb) dalam Crude Palm Oil (CPO) merupakan salah satu parameter kualitas CPO.Munculnya asamlemak bebas ini dapat berasal dari faktor pemanenan dan penyimpanan. Asamlemak bebas yang tinggi dalam CPO dapat menurunkan harga CPO. Minyak mentah sawit inimerupakan salah satu sumber energi terbarukan yang diolah, antara lain, menjadi pure plant oil (PPO)dan biodiesel. Namun,masalah utama CPO sebagai bahan baku PPO dan biodiesel adalah asamlemak bebas. Asam lemak bebas dalam CPO yang dapat digunakan untuk PPO dan biodiesel tidakboleh lebih dari 1%. Oleh karena itu, dalam penelitian ini dilakukan usaha untuk menurunkan asamlemak bebas dalam CPO sehingga dapat dimanfaatkan sebagai bahan bakar. Metoda yang digunakanadalah esterifikasi. Asam lemak bebas dikonversi menjadi metil ester. Campuran metil ester dengantrigliserida ini merupakan bahan bakar yang dapat digunakan untuk pengganti BBM. Kondisi yangoptimal untuk proses esterifikasi CPO alb tinggi adalah sebagai berikut : suhu 65oC, waktu 360 menit,katalis 0,25%, dan perbandingan mol metanol 8:1. Dengan proses ini, asam lemak bebas dapatditurunkan menjadi 2,76% (konversi 89,39%). Pada kondisi yang sama dengan katalis yangditingkatkan menjadi 0,5%, asam lemak bebas dapat diturunkan menjadi 1,86% (konversi 92,85%).Pada kondisi yang sama, dengan katalis yang ditingkatkan menjadi 1%, asam lemak bebas dapatditurunkan menjadi 1,75% (konversi 93,28%).Kata kunci: asam lemak bebas, CPO, esterifikasi, PPO, biodiesel

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DAYA SAING EKSPOR PRODUK CPO INDONESIA DAN POTENSI HILIRISASI DIOLAH MENJADI BIODIESEL

JURNAL PERSPEKTIF BEA DAN CUKAI ◽

10.31092/jpbc.v4i2.952 ◽

2020 ◽

Vol 4 (2) ◽

Author(s):

Danar Agus Susanto

Keyword(s):

Palm Oil ◽

Comparative Advantage ◽

Global Market ◽

National Standard ◽

Revealed Comparative Advantage ◽

Crude Palm Oil ◽

A Value ◽

World Demand ◽

Domestic Use

ABSTRACTIndonesia is the world's largest producer of crude palm oil (CPO). Even so, the trend of international trade in Indonesian CPO products has decreased in the last 10 years with a value of -10.19%. The decline in world demand for CPO can be dealt with by utilizing CPO as a biofuel for domestic use, like biodiesel. The purpose of this study is to determine the competitiveness of Indonesian CPO in global trade and determine the parameters of the quality requirements of CPO and biodiesel. The competitiveness analysis method uses the Revealed Comparative Advantage (RCA) method, while the analysis of the potential quality of CPO as a biofuel is carried out by analyzing the Indonesian National Standard (SNI). CPO trade in the global market is controlled by Indonesia with a market share of 50% and Malaysia 25.6%, with the declining trade trend in the last 10 years relatively (2010-2019) of -6.91%. The level of competitiveness of Indonesian CPO products in 2019 is very strong, but on average in the last 10 years, the level of competitiveness of Indonesian CPO is no better than that of Malaysia. Indonesia has SNI 01-2901-2006 and SNI 7182: 2015 as a determinant of the quality of CPO and biodiesel products developed in Indonesia so that the CPO and biodiesel produced fullfil sacurity and safety aspects when used by consumers.Keywords: crude palm oil (CPO), competitivenessv, quality, Indonesian National Standard (SNI) ABSTRAKIndonesia merupakan negara produsen minyak kelapa sawit mentah/ Crude Palm Oil (CPO) terbesar di dunia. Meskipun demikian, tren perdagangan internasional produk CPO Indonesia mengalami penurunan dalam sepuluh tahun terakhir dengan nilai -10,19%. Penurunan permintaan dunia terhadap CPO, dapat disiasati dengan memanfaatkan CPO sebagai bahan bakar nabati untuk keperluan dalam negeri sebagai biodiesel. Tujuan penelitian ini adalah mengetahui daya saing CPO Indonesia dalam perdagangan global dan mengetahui parameter persyaratan mutu CPO dan biodiesel. Metode analisis daya saing menggunakan metode Revealed Comparative Advantage (RCA), sedangkan analisis potensi kualitas CPO sebagai biofuel dilakukan dengan menganalisis Standar Nasional Indoensia (SNI). Perdagangan CPO dalam pasar global dikuasai oleh Indonesia dengan pangsa pasar 50% dan Malaysia 25,6%, dengan tren perdagangan relatif menurun dalam 10 tahun terakhir (2010-2019) sebesar -6,91%. Tingkat daya saing produk CPO Indonesia pada tahun 2019 sangat kuat, namun secara rata-rata dalam 10 tahun terakhir, tingkat daya saing CPO Indonesia tidak lebih baik dari Malaysia. Indonesia memiliki SNI 01-2901-2006 dan SNI 7182:2015 sebagai penentu kualitas produk CPO dan biodiesel yang dikembangkan di Indonesia, sehingga CPO dan biodiesel yang dihasilkan memenuhi aspek keamanan dan keselamatan ketika digunakan oleh konsumen.Kata kunci: crude palm oil (CPO), daya saing, kualitas, Standar Nasional Indonesia (SNI)

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