PERILAKU HARGA DAN INTEGRASI PASAR CPO (Crude Palm Oil) INDONESIA

This research aimed to examine Indonesia CPO price behavior in world market, analyse Indonesian CPO market integration. This research used secondary data regarding and CPO perennial FOB export and world price in four largest exporter countries in the world, namely Indonesia,Malaysia, Singapore, and Papua Nugini in the periode of 1961-2011. Price behavior examined variation coefficient analysis. Analysis of market integration is done through three stages, that is; (a) a unit root Test to determine the stationerity of a series of variables, (b)cointegration Test to find out the stationerity residue of regression
analysis, (c) Granger causality test to determine a market leading. Variation coefficient analysis results indicate that Indonesian CPO prices are most fluctuate compared to CPO price in Malaysian, and Papua Nugini as produsen market. Indonesia, Malaysia, Singapore, and Papua Nugini have integrated horizontally as country producer outright
exporter CPO. Indonesia and Rotterdam have integrated vertically in CPO trade world. Leader market Indonesian CPO trade is Malayasia and Rotterdam horizontally and vertically, respectively.