Optimizing the warehouse receipt system for capture fisheries in Indonesia: Policy recommendations for coastal area development

Abstract

The objective of this study is to investigate the inhibiting factors of warehouse receipt implementation for capture fisheries commodities in Indonesia, as well as the urgency of forming regional policies to encourage economic growth in coastal areas through the utilization of warehouse receipt systems. This was descriptive normative legal research through a statute approach and a conceptual approach, which was studied using data collected directly from the field through interviews and Focus Group Discussions, then analyzed based on positive law and theories related to the research issue. The results obtained revealed there are inhibiting factors in the utilization of the warehouse receipt system for capture fisheries commodities, namely the lack of synergy between stakeholders supporting the warehouse receipt system, the lack of local government support for the utilization of the warehouse receipt system, and constraints on the process of execution of warehouse receipt system collateral objects for capture fisheries commodities. The practical and theoretical implications of this research are the formulation of policies at the local level by the local government that regulate the development, guidance, and supervision of the fisheries warehouse receipt system, futures trading, and commodity auction market linkages. This study contributes to the policy needs to be complemented by efforts to develop standards, procedures, and technical development of the Fisheries Warehouse Receipt System for the community, along with regular evaluation by the relevant agencies.