“…Although many studies related to the crude palm oil industry were carried out, but forecasting was not considered in those studies. Some recent examples of the studies include the Life Cycle Assessment (LCA) (Andarani, Nugraha, Sawitri & Budiawan, 2018, Subramaniam et al, 2010and Vijaya, Ma, Choo & Sulaiman, 2008, an activity based costing method (Sembiring, Wahyuni, Sinaga & Silaban, 2018), a system dynamic tool called structural thinking, experiential learning laboratory with animation (STELLA) based on simulation (Otieno et al, 2016) and the Cobb-Douglas (C-D) production function that fulfilled the C-D assumptions (Norhidayu, Syazwani, Radzil, Amin & Balu, 2017) as well as the time series analysis method which included Johansen cointegration technique, error correction model and Granger causality tests (Asari et al, 2011). Since time series is a sequence of data points collected over time, the use of time series analyses is very crucial in order to obtain an understanding of the underlying forces and structure produced by the data, which would eventually be used in forecasting or monitoring (Farrelly, 2017).…”