In the MARMA model price Eq. 12, the explanatory variables and AR and MA parameters also explains about 74% of the variation in the monthly spot palm oil price model. The term AR (1) ((pi) ((),SPPO,_,) ((p1 is an AR parameter of order 1) represents the fit to the series value SPPO and the coefficient value is 0.453. The term MA (1) (e1) (ei et-1) (ei is a MA parameter of order 1) and et_i represents the assumed random error in the data at period t-1 and et represented at period t and the coefficient value is 0.335 and 0.013. Besides, the spot palm oil price (SPPO) is positive and highly relationship between the crude oil price (COP):