Keterpaduan Pasar Dan Faktor-Faktor Yang Mempengaruhi Harga Kakao Indonesia

Abstract

Cocoa is one of the major Indonesian agricultural export products. Currently Indonesia is one of the largest cocoa producer in the world. Cocoa export price still refers to New York Board on Trade. Thus Indonesia still acts as price taker. The aims of this study were to investigate the market integration between cocoa price in South Sulawesi, Indonesia and cocoa price in NYBOT, and to analyze some factors those affected the Indonesian cocoa price. This study found there were not market integration both in the short-term and long term. Some factors that significantly affected Indonesia cocoa price were NYBOT cocoa price, world consumption and exchange rate.