The study analyzed the integration and price efficiency of Indonesian cocoa beans in the global market. They used statistical methods to see if the prices of Indonesian cocoa beans were closely linked to world market prices. The results showed that Indonesian cocoa bean prices are long-term integrated with world market prices and prices in India, and short-term integrated with prices in Malaysia. However, there was no integration with prices in the USA. The study also found that the price of Indonesian cocoa beans in the Makassar spot market reflects past pricing information, indicating a weak form of market efficiency.