Menggali Peluang Ekspansi Pasar: Diversifikasi Ekspor Minyak Sawit Mentah (CPO) Indonesia dan Produk Derivatifnya ke Negara Nontradisional

Abstract

Indonesia is a country that is a major producer and exporter of Crude Palm Oil (CPO) and its derivative products at the global level. However, the focus of Indonesian CPO exports is still largely focused on traditional markets. This high level of dependency has a negative impact on export activities, especially in situations of economic shock in the countries concerned. Therefore, the strategy that can be taken is to diversify exports towards non-traditional markets as new destination countries. Thus, a comprehensive study is needed regarding the competitiveness, market position and opportunities for developing the Indonesian CPO export market, as well as identification of the variables that influence the volume of Indonesian CPO exports to seven non-traditional countries, namely Vietnam, the Philippines, Turkey, Ghana, Senegal, Equatorial Guinea and Fiji, in the range 2001-2019. The commodity that is the focus of the analysis is Indonesian Crude Palm Oil (CPO) and its derivative products which are classified under the HS code 1511. The analytical approach applied in this research includes Revealed Comparative Advantage (RCA), Export Product Dynamic (EPD), X-Model, as well as panel data regression. The analysis results indicate that the competitiveness of Indonesian CPO is very high in the countries studied. Optimistic market development potential is found in Vietnam, the Philippines and Ghana, while markets with lower development potential are located in Turkey, Fiji and Equatorial Guinea. The market with less than optimal development potential is located in Senegal. Several factors that have been proven to significantly influence Indonesia’s CPO export volume include real Gross Domestic Product (GDP), RCA, price, real exchange rate, and economic distance. It is hoped that the government can strengthen trade cooperation by eliminating trade tariff barriers for countries that have promising markets. Meanwhile, for countries with less than optimal potential, a more intensive trade promotion strategy is expected to increase market penetration in these countries.