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The Asymmetric Impact of Exchange Rates on Indonesia's CPO Export Value

JALOW | Journal of Agribusiness and Local Wisdom · Vol. 6 No. 2 (2025) · hlm. 9–16

DOI
10.22437/jalow.v6i2.40778
ISSN
2621-1300, 2621-1297
Terbit
2025-03-03
Penerbit
Program Studi Agribisnis bekerja sama dengan PERHEPI
Bahasa
en
Lisensi
creativecommons.org/licenses/by/4.0

Abstrak

This study examines the asymmetric effect of the rupiah exchange rate on Indonesia's Crude Palm Oil (CPO) exports during the period 2006 to 2023. Utilizing the Nonlinear Autoregressive Distributed Lag (NARDL) approach, this study captures the short-term and long-term asymmetric relationship between exchange rate fluctuations and export values. Earlier research typically use linear models on aggregate data, thus possibly ignoring sector-specific dynamics. This study, on the other hand, focuses on the unique characteristics of CPO exports, which reveal different responses to rupiah appreciation and depreciation. The results of the analysis indicate a significant asymmetric effect in the long run, where rupiah depreciation increases the competitiveness of CPO exports, while appreciation tends to decrease it. However, no significant asymmetric impact was found in the short run. The NARDL analysis reveals that depreciation in the exchange rate exerts a more significant influence on export performance compared to appreciation., thus supporting the need for adaptive policies to maintain export stability in the CPO sector.

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Sumber metadata: OAI-PMH (metadata jurnal) https://online-journal.unja.ac.id/index.php/JALOW/oai, pertama di-harvest 6 Nov 2026, terakhir terlihat 8 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en">The Asymmetric Impact of Exchange Rates on Indonesia's CPO Export Value</dc:title>
	<dc:creator xml:lang="en">Utami Lestari, Sri </dc:creator>
	<dc:creator xml:lang="en">Alamsyah, Zulkifli</dc:creator>
	<dc:creator xml:lang="en">Rahmah, Karina</dc:creator>
	<dc:subject xml:lang="en">Exchange Rate</dc:subject>
	<dc:subject xml:lang="en">CPO Export</dc:subject>
	<dc:subject xml:lang="en">Asymmetry</dc:subject>
	<dc:subject xml:lang="en">NARDL</dc:subject>
	<dc:description xml:lang="en">This study examines the asymmetric effect of the rupiah exchange rate on Indonesia's Crude Palm Oil (CPO) exports during the period 2006 to 2023. Utilizing the Nonlinear Autoregressive Distributed Lag (NARDL) approach, this study captures the short-term and long-term asymmetric relationship between exchange rate fluctuations and export values. Earlier research typically use linear models on aggregate data, thus possibly ignoring sector-specific dynamics. This study, on the other hand, focuses on the unique characteristics of CPO exports, which reveal different responses to rupiah appreciation and depreciation. The results of the analysis indicate a significant asymmetric effect in the long run, where rupiah depreciation increases the competitiveness of CPO exports, while appreciation tends to decrease it. However, no significant asymmetric impact was found in the short run. The NARDL analysis reveals that depreciation in the exchange rate exerts a more significant influence on export performance compared to appreciation., thus supporting the need for adaptive policies to maintain export stability in the CPO sector.</dc:description>
	<dc:publisher xml:lang="en">Program Studi Agribisnis bekerja sama dengan PERHEPI</dc:publisher>
	<dc:date>2025-03-03</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:format>application/vnd.openxmlformats-officedocument.wordprocessingml.document</dc:format>
	<dc:identifier>https://online-journal.unja.ac.id/JALOW/article/view/40778</dc:identifier>
	<dc:identifier>10.22437/jalow.v6i2.40778</dc:identifier>
	<dc:source xml:lang="en">JALOW | Journal of Agribusiness and Local Wisdom; Vol. 6 No. 2 (2023): Journal of Agribusiness and Local Wisdom; 9-16</dc:source>
	<dc:source>2621-1300</dc:source>
	<dc:source>2621-1297</dc:source>
	<dc:language>en</dc:language>
	<dc:relation>https://online-journal.unja.ac.id/JALOW/article/view/40778/19923</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2025 Sri Utami Lestari, Zulkifli Alamsyah, Karina Rahmah</dc:rights>
	<dc:rights xml:lang="en">https://creativecommons.org/licenses/by/4.0</dc:rights>
</oai_dc:dc>