 Price forecast of groundnut in selected markets of RajasthanMeera Indian Journal of Agricultural Marketing, 2015, vol. 33, issue 3 Abstract: In the present investigation, different forecasting models were considered to price forecast and to measure the forecast accuracy among selected models. Price of groundnut was forecasted using various models and compared with the actual price. The best model was chosen on the basis of least values of AIC, IBC and Mean Absolute Percentage Error (MAPE). From the various forms of ARIMA, and Exponential Smoothing Models; on comparing the alternative models with criteria. Therefore, ARIMA (2, 1, 2) for Bikaner, ARIMA(0, 1, 1) for Churu and ARIMA(2, 1, 0) model for Sri ganganagr market was considered the most suitable model for the price forecasting of groundnut in Rajasthan. This model can be useful in framing the various policies related to the benefits of the producers and sellers. Agricultural price information needs for decision-making at all levels are increasing due to globalization and market integration. to provide accurate and timely price forecast by taking into account the local information to the farmers, traders and policy makers so that they can make production, marketing and policy decisions well in advance. The decision support system should provide customized advice to individual farmers in view of their local conditions. Keywords: Agricultural; Finance (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ags:injagm:399659 Access Statistics for this article More articles in Indian Journal of Agricultural Marketing from Indian Society of Agricultural Marketing |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.