Can Indonesian Biopharmaceutical Plant Grab a Chance in Global Market?

Ginger Trade Revisited

DOI

10.2991/aebmr.k.211214.042How to use a DOI?

Keywords

ginger; Indonesia; global market; competitiveness

Abstract

Biopharmaceutical plants have shown remarkable expansion since the outbreak of COVID-19. Ginger, one of the leading biopharmaceutical crops, grows rapidly in transactions in the global market. Among many countries, Indonesia has consistently been one of the world’s main suppliers of the ginger. This study aims to: (1) describe the trend of ginger in the global market; (2) evaluate the competitiveness of Indonesian ginger with the partner country markets; and (3) identify potential export markets for Indonesian ginger. Trade data and other indicators used in this study were obtained from FAOSTAT and the World Bank’s World Integrated Trade Solution (WITS) with commodity code HS091010. The data period is the last 10 (ten) years (2010-2019). Descriptive analysis with data visualization was employed to achieve the first objective of this study. Meanwhile, analysis of Revealed Comparative Advantage (RCA), Export Product Dynamic (EPD) and X-Model Potential Export Products (X-Model) were conducted to evaluate the competitiveness of Indonesian ginger in the global market and to identify its potential markets. The results of this study show that trade volume in the global market increased rapidly in the 2010-2019 period. In this period, ginger exports grew by 6.6% per year and imports also continued to show prominent increase with an average growth of 8.65 percent per year. Furthermore, the competitiveness of Indonesian ginger proceeds to a high level in the United Kingdom (RCA = 2.84) and Germany (RCA = 1.90). Moreover, the Indonesian ginger export market in Bangladesh, Germany, and Malaysia is classified as a potential market development level. Thus, the Indonesian ginger business stakeholders must consider the market potential in these countries to improve ginger trading performance in the global market

Copyright

© 2021 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Gilang Wirakusuma
PY  - 2021
DA  - 2021/12/15
TI  - Can Indonesian Biopharmaceutical Plant Grab a Chance in Global Market?
BT  - Proceedings of 1st International Conference on Sustainable Agricultural Socio-economics, Agribusiness, and Rural Development (ICSASARD 2021)
PB  - Atlantis Press
SP  - 297
EP  - 302
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.211214.042
DO  - 10.2991/aebmr.k.211214.042
ID  - Wirakusuma2021
ER  -