Factors affecting the crude palm oil production and prices : evidence from Indonesian economy
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"Crude palm oil (CPO) production has been a pivotal factor in the economic growth of CPO production companies, influenced by various determinants and necessitating further research. This study investigates the impact of labour wage rate, workers’ education, production land, interest rate, and inflation rate on CPO production and prices in Indonesia. Utilizing secondary data from STATISTA and World Development Indicators (WDI) covering the period from 1994 to 2023, the study employs the dynamic autoregressive distributed lag (DARDL) approach to analyse the relationships among these variables. The findings indicate that labour wage rate, workers’ education, production land, interest rate, and inflation rate are positively correlated with CPO production and prices in Indonesia. The study offers policy recommendations, suggesting that regulators should focus on increasing labour wages, improving workers' education, and expanding production land to enhance CPO production and prices." -- first page
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 License.