2020 International CEO Communication, Economy, Organization & 

Social Sciences Congress

US-China Bilateral Trade Tension Impact on Palm Oil Industry
A Case Study: Dupont Approach to Financial Performance Analysis of PT Ast
ra Agro Lestari, TBK

Dr. Wiwiek Mardawiyah DARYANTO

Sekolah Tinggi Manajemen IPMI
wiwiek.daryanto@ipmi.ac.id
Orcid: 0000-0003-3582-5857

Andi WIBOWO
Sekolah Bisnis dan Manajemen, Insitut Teknologi Bandung
andi.wibowo@pom.go.id

Akhmad Kamaluddin JAFFAR

Sekolah Bisnis dan Manajemen, Insitut Teknologi Bandung
akhmad.kamaluddin@pom.go.id

ABSTRACT

The US-China bilateral trade tensions began in early 2018. The tension between two giant economic power, bring th
e uncertainty market condition of agricultural commodity like Palm Oil. As a source of vegetable oil, palm oil contr
ibutes nearly a fifth of oils and fats production in the world. Indonesia is the largest producer of Palm Oil in the worl
d, then until 2019, the major trading partner of Indonesian Palm Oil is China in the top list. This study take PT. Astr
a Agro Lestari Tbk (AALI) as the analysis model since PT AALI is the largest agribusiness company listed in Indon
esia Stock Exchange (IDX) measured by market capitalization. The company become the top stock list of investor p
ortfolio and research object by analysts in the capital market. This research analysis the financial performance comp
aration of AALI before Trade Tension of US-China (2016-2017) and after (2018-2019) by using the DuPont system
based on analysis of return on equity and return on assets model. It was found that the US-China Trade Tension not
significantly impact to the company financial performance. However, there are difference in absolute term, particula
rly in operating income which affect the whole RoE on DuPont analysis.

Keywords: Financial Performance, Crude Palm Oil (CPO), DuPont Analysis