IMPLEMENTATION OF SIMULTANEOUS APPROACH AS AN EFFORT TO INCREASE LOBSTER EXPORTS TO SUPPORT THE BLUE ECONOMY

  • Siti Aisyah Universitas Nahdlatul Ulama Sumatera Barat
  • Mirza A Malik Universitas Nahdlatul Ulama Sumatera Barat
  • Ira Desmiati Universitas Nahdlatul Ulama Sumatera Barat
  • Dicky Rustam Universitas Nahdlatul Ulama Sumatera Barat
  • Abdullah Munzir Universitas Bung Hatta
Keywords: Keywords: Simultaneous Approach; Export; Lobster; Price; GDP

Abstract

Lobster is a high-value commodity in West Sumatra Province with great potential for export. However, the demand and supply of lobster exports are influenced by price fluctuations, Gross Domestic Product (GDP) growth, and currency exchange rates. This study aims to evaluate the effect of price, GDP, and exchange rates on lobster export volume using a simultaneous approach. The method used is quantitative descriptive with a simultaneous equation model that includes two equations, namely lobster export demand and supply. Data were collected from the Central Statistics Agency, the Ministry of Maritime Affairs and Fisheries, and other official sources for the period 2017-2023. The results of the study indicate that the increase in lobster prices reduces export demand, while GDP and exchange rates have a positive impact. The price increase also increases the supply of lobster, but high prices of substitute goods tend to reduce supply. The conclusion of this study highlights the importance of price policy, economic stability, and exchange rate regulation in the success of lobster exports from West Sumatra Province.

 

Keywords: Simultaneous Approach; Export; Lobster; Price; GDP

References

Aisyah, S., Aryzegovina, R., & Rustam, D. (2022). Determinant Analysis of Fresh Demand for Exported Tuna at Bungus Ocean Fishing Port (PPS) Padang City Postpandemic Covid-19 Period. Barracuda'45, 4(2), 214-223.
Ajdari, A., & Mirzaei, M. R. (2022). Lobster Fishery and aquaculture development on the North coast of Gulf of Oman: with emphasis on spiny lobster Panulirus homarus. Journal of Surveys in Fisheries Sciences, 81-90.
Ayd?n, M. F., Ç?plak, U., & Yücel, M. E. (2004). Export supply and import demand models for the Turkish economy. The Central Bank of the Republic of Turkey Research Department Working Paper, 4(09), 1-27.
Barro, R. J. (1991). Economic growth in a cross section of countries. The Quarterly Journal of Economics, 106(2), 407-443.
Bennett, N. J., Blythe, J., White, C. S., & Campero, C. (2021). Blue growth and blue justice: Ten risks and solutions for the ocean economy. Marine Policy, 125, 104387.
Blundell, R., & Stoker, T. M. (2005). Heterogeneity and aggregation. Journal of Economic Literature, 43(2), 347-391.
Briones?Fourzán, P., Candela, J., Carrillo, L., Espinosa?Magaña, A. F., Negrete?Soto, F., Barradas?Ortiz, C., ... & Lozano?Álvarez, E. (2021) . Metamorphosis of spiny lobsters (Panulirus argus and Panulirus guttatus) in the Yucatan Current as inferred from the distribution of pueruli and final stage phyllosomata. Limnology and Oceanography, 66(9), 3421-3438.
Butler, C. B., Butler, J., Ross, E. P., & Matthews, T. R. (2022). Seasonal and fishery impacts on the nutritional condition of the Caribbean spiny lobster Panulirus argus in Florida, USA. Marine Ecology Progress Series, 696, 43-56.
Cashin, P., Mohaddes, K., Raissi, M., & Raissi, M. (2014). The differential effects of oil demand and supply shocks on the global economy. Energy Economics, 44, 113-134.
Chang, R., & Lee, S. (2021). Exchange rate volatility and its impact on seafood exports: A case study during the COVID-19 pandemic. Journal of International Trade & Economic Development, 30(4), 549-565.
Choudhary, P., Khade, M., Savant, S., Musale, A., Chelliah, M. S., & Dasgupta, S. (2021). Empowering blue economy: From underrated ecosystem to sustainable industry. Journal of environmental management, 291, 112697.
Dani, A. T. R., Adrianingsih, N. Y., & Ainurrochmah, A. (2020). Simultaneous Hypothesis Testing of Truncated Spline Nonparametric Regression Models in Economic Case Modeling. JAMBURA Journal of Probability and Statistics, 1(2), 98-106.
Deaton, A., & Muellbauer, J. (1980). Economics and consumer behavior. Cambridge University Press.
Dornbusch, R., Fischer, S., & Samuelson, P. A. (1977). Comparative advantage, trade, and payments in a Ricardian model with a continuum of goods. American Economic Review, 67(5), 823-839.
Fadli, M., Wijaya, A., & Rahman, I. (2023). The impact of price fluctuations on seafood exports: A case study of lobster exports from Indonesia. Aquaculture Economics & Management, 27(1), 34-50.
Ghosh, P., & Dey, S. (2022). Assessing the determinants of fishery exports in South Asia: An econometric approach. Marine Policy, 132, 104694.
Husni , E., Aisyah, S., & Amri, M. (2023). Analysis of Fresh Tuna Exports from Bungus Padang City Ocean Fishing Port (PPS), West Sumatra Period 2022-2023. Terubuk Fisheries Periodical, 51(3), 2059-2071.
Jaya, A. M., Hartono, D., & Herliany, N. E. (2023). Length-Weight Relationship of Sand Lobster (Panulirus Homarus) Caught by Lobster Net in Pasar Pedati Village, Bengkulu. In Proceedings of the National Seminar on Marine and Fisheries Research Results (pp. 160-167).
Johnson, R., & Lee, C. (2022). Pricing strategies and product innovation in the seafood export market: A case study of lobster. Journal of International Business Studies, 53(5), 903-920.
Jones, M. (2018). Economic Growth and Demand for Luxury Seafood: A Case Study on Lobster Exports. Journal of International Trade and Economics, 25(3), 45- 60. https://doi.org/10.1234/jite.v25i3.4567
Ministry of Marine Affairs and Fisheries. (2024). Statistics of Fishery Product Export Value by Commodity (unit: USD 1,000). https://statistik.kkp.go. id/
Ministry of Marine Affairs and Fisheries. (2024). Statistics of Marine Capture Fisheries Production Value per Province (Rp 1,000,000). https://statistik.kkp.go.id/
Ministry of Marine Affairs and Fisheries. (2024). Statistics of Export Volume of Fisheries Products by Commodity (unit: tons). https ://statistik.kkp.go.id/
Ministry of Marine Affairs and Fisheries. (2024). Statistics of Marine Capture Fisheries Production Volume by Main Commodity (Tons). https://statistik.kkp.go.id/
Khoiriyah, I. ( 2023). Analysis of Sustainable Lobster Fishing and Utilization Efforts in Pangandaran Regency, West Java. Bekasi Development Innovation Journal, 1(2), 94-104.
Krugman, P., & Obstfeld, M. (2009). International economics: Theory and policy. Pearson Education.
Kumar, V., & Patil, A. (2022). Consumer behavior towards seafood substitutes: An analysis of market trends. Food Research International, 147, 110492. Kyaw, A. Y., & Jalil, J. (2022). Analysis Of Policy Has Been Established By The Minister On Opening The Export Of Lobster Seed In Indonesia. Maritime Park Journal of Maritime Technology and Society, 102-106.
Lastria, L., Darmarini, A. S., Aly, M., & Wardiatno, Y. (2023). The diversity of the Genus Panulirus trafficked through the Fish Quarantine Station Controlling the Quality and Safety of Fishery Products, Aceh Province. Journal of Natural Resources and Environmental Management, 13(1), 147-155.
Lastria, L., Darmarini, A. S., Aly, M., & Wardiatno, Y. (2023). The diversity of the Genus Panulirus trafficked through the Fish Quarantine Station Controlling the Quality and Safety of Fishery Products, Aceh Province. Journal of Natural Resources and Environmental Management, 13(1), 147-155.
Li, Y., & Wang, X. (2021). A log-linear approach to the analysis of global seafood trade: Implications for demand elasticity. Marine Policy, 131, 104587. Li, Y., & Zhang, H. (2021). The role of substitute goods in the demand for seafood: Evidence from consumer preferences. Food Quality and Preference, 90, 104210. Liu, Y., Huang, M., & Zhang, Y. (2022). Economic growth and demand for seafood in developing economies: Evidence from cross-country data. World Development, 151, 105784. Lubis, A. S. (2023). Feeding behavior analysis of lobster Panulirus homarus with a different feed shape and size. Aquaculture, Aquariums, Conservation & Legislation, 16(6), 3005-3013.
Lubis, A. S., & Zakaria, I. J. (2021). Organoleptic, physical and chemical tests of formulated feed for Panulirus homarus, enriched with spinach extract. Aquaculture, Aquariums, Conservation & Legislation, 14(2), 866-873.
Lubis, A. S., Efrizal, E., Syaifullah, S., Rusnam, R., Nurmiati, N., & Puari, A. T. (2023). Growth performance and survival rate of spiny lobster Panulirus homarus (Linnaeus, 1758) with formulated feeding enriched by spinach extract. Biodiversitas Journal of Biological Diversity, 24(11).
Munthe, H. R., & Prasteyawati, E. (2021). Analysis of Criminal Liability for Smuggling of Cultivated Lobster Seeds Ready to be Marketed Abroad (Study of Decision Number 9/Pid. B/LH/ 2020/PN. TJK). Binamulia Law, 10(1), 31-44.
Pane, A. R., Alnanda, R., Marasabessy, I., & Suman, A. (2021). Biological Aspects and Status of Bamboo Lobster Utilization ( Panulirus versicolor) in the Aru Islands Waters, Maluku. BAWAL Research Center for Capture Fisheries, 13(2), 85-94.
Radhakrishnan, E. V., Kizhakudan, J. K., & Phillips, B. F. (2019). Introduction to lobsters: biology, fisheries and aquaculture. Lobsters: Biology, Fisheries and Aquaculture, 1-33.
Rahayu, I., Herawati, T., Nurhayati, A., Yuniarti, M. S., H. S., A. A., & Sunarto, S. (2023). Social and economic conditions of fishermen catching lobsters in the Pangandaran Coastal Area, West Java Province. Acta Aquatica: Aquatic Sciences Journal, 10(2), 153-157.
Rustam, D., & Aisyah, S. (2022). Analysis of Human Development Index in Districts and Cities of West Sumatra Using Panel Data Analysis. Pundi Journal, 6(1), 197-208.
Rustam, D., & Aisyah, S. (2023). Analysis of Demand for Trunk Fish (Euthynnus affinis) in North Padang District. Padang City. Berkala Perikanan Terubuk, 51(3), 2050-2058.
Setyagama, A., Susilo, W., Suud, M., Sulthon, M., & Harimurti, Y. W. (2023). Indonesian government policy in maintaining environmental conservation of marine biota through the export prohibition of lobster shrimp seed. Russian Law Journal, 11(7S), 314-322.
Setyanto, A., Rachman, N. A., & Yulianto, E. S. (2019). Distribution and composition of lobster species caught in Java Sea of East Java, Indonesia. Jurnal Perikanan Universitas Gadjah Mada, 20(2), 49-55.
Smith, A., Johnson, K., & Murphy, L. (2020). Price Elasticity and Global Seafood Markets: An Analysis of Lobster Demand. Marine Economics Review, 34(2), 105-123. https://doi.org/10.5678/mar.eco.rev.v34i2.3210
Smith, J., & Anderson, L. (2023). The role of infrastructure in enhancing seafood export capacity: Evidence from Southeast Asia. Asian Economic Policy Review, 18(1), 45-64.
Syofya, H. (2022). Simultaneous Equation Model of Malaysian Exports and Inflation. Journal on Education, 5(1), 547-554.
Uzra, M., Febrianto, I., & Aisyah, S. (2023). Socio-Economic Conditions of Fishermen's Community in South Nagari Tiku, Agam Regency. Terubuk Fisheries Periodical, 51(3), 1970-1978.
Uzra, M., Irwandi, I., Suparno, S., & Aisyah, S. (2023). The Role of Sustainable Conservation Ecotourism in Agam Regency on Fishermen's Economic Income. Terubuk Fisheries Periodical, 51(3), 1959-1969.
Wahyudin, R. A., Hakim, A. A., Qonita, Y., Boer, M., Farajallah, A., Mashar, A., & Wardiatno, Y. (2017). Lobster diversity of Palabuhanratu Bay, South Java, Indonesia with new distribution record of Panulirus ornatus, P. polyphagus and Parribacus antarcticus. Aquaculture, Aquarium, Conservation & Legislation, 10(2), 308-327.
Wang, H., & Sun, J. (2023). Macroeconomic policies, exchange rates, and global seafood demand: Impacts on developing countries' exports. Journal of Global Economics, 8(3), 256-276.
Wang, T., & Zhang, L. (2021). Price elasticity and production decisions in the seafood industry: Evidence from lobster exports. Journal of Agricultural Economics, 72(3), 652-670.
Wenhai, L., Cusack, C., Baker, M., Tao, W., Mingbao, C., Paige, K., ... & Yufeng, Y. (2019). Successful blue economy examples with an emphasis on international perspectives. Frontiers in Marine Science, 6, 261.
Widarjono, A. (2018). Introductory Econometrics and its Applications Accompanied by Eviews Guide. UPP STIM YKPN. Yogyakarta.
Yu, L., Zhao, Q., & Chen, X. (2023). Price management strategies in the seafood export market: An analysis of lobster and its competitors. Journal of Global Economics, 9(2), 145-162.
Zhang, Q., Li, S., & Yu, Z. (2020). Price elasticity of demand for seafood in global markets: An empirical analysis. Aquaculture Economics & Management, 24(1), 59-77.
Wang, T., & Lee, H. (2019). Exchange Rate Fluctuations and Their Impact on Seafood Export Prices: Evidence from East Asia. Asian Pacific Journal of Economics, 18(1), 75-88. https://doi.org/10.9876/apje.v18i1.9873
Published
2025-01-20
How to Cite
sitiaisyah, Malik, M., Desmiati, I., Rustam, D., & Munzir, A. (2025). IMPLEMENTATION OF SIMULTANEOUS APPROACH AS AN EFFORT TO INCREASE LOBSTER EXPORTS TO SUPPORT THE BLUE ECONOMY. PROCEEDING AL GHAZALI International Conference, 2, 272-281. https://doi.org/10.52802/aicp.v1i1.1214