The Prospects and Challenges of Palm Oil Commodity Exchange Development in Indonesia
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The increasing volatility in global palm oil markets, driven by geopolitical instability, climate disruptions, and regulatory fragmentation, has amplified the urgency for Indonesia the world’s largest palm oil producer to institutionalize more transparent and resilient trade mechanisms. One proposed intervention is the establishment of a palm oil commodity exchange to enhance price discovery, stabilize market dynamics, and improve governance. This study aims to explore the key institutional, infrastructural, and market-based factors influencing the development of such an exchange in the Indonesian context. A qualitative approach was employed using the Systematic Literature Review (SLR) method, adhering to the PRISMA (Preferred Reporting Items for Systematic Reviews and Meta-Analyses) protocol. Data were gathered exclusively from the ScienceDirect database through a multi-phase screening process, which initially retrieved 1,425 articles. After refining keywords, applying temporal filters (2022–2025), and ensuring open-access availability, 36 articles were included for full analysis. Data analysis was conducted through thematic synthesis, identifying recurring patterns and challenges across selected literature. Findings reveal three core dimensions shaping the feasibility of a palm oil commodity exchange: institutional fragmentation, infrastructural underdevelopment, and limited market integration. These issues present both strategic opportunities and structural constraints. The study concludes that while the potential of such an exchange is significant, its realization requires coherent regulatory reform, technological investment, and stakeholder alignment. Future research should examine comparative policy frameworks and conduct longitudinal assessments of existing agri-commodity exchanges across comparable economies.
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