Sales forecasting of selected fresh vegetables in multiple channels for marginal and small-scale farmers in Kerala, India

R.S. Sreerag and Prasanna Venkatesan Shanmugam

Journal of Agribusiness in Developing and Emerging Economies, 2023, vol. 15, issue 3, 618-637

Abstract: Purpose - The choice of a sales channel for fresh vegetables is an important decision a farmer can make. Typically, the farmers rely on their personal experience in directing the produce to a sales channel. This study examines how sales forecasting of fresh vegetables along multiple channels enables marginal and small-scale farmers to maximize their revenue by proportionately allocating the produce considering their short shelf life. Design/methodology/approach - Machine learning models, namely long short-term memory (LSTM), convolution neural network (CNN) and traditional methods such as autoregressive integrated moving average (ARIMA) and weighted moving average (WMA) are developed and tested for demand forecasting of vegetables through three different channels, namely direct (Jaivasree), regulated (World market) and cooperative (Horticorp). Findings - The results show that machine learning methods (LSTM/CNN) provide better forecasts for regulated (World market) and cooperative (Horticorp) channels, while traditional moving average yields a better result for direct (Jaivasree) channel where the sales volume is less as compared to the remaining two channels. Research limitations/implications - The price of vegetables is not considered as the government sets the base price for the vegetables. Originality/value - The existing literature lacks models and approaches to predict the sales of fresh vegetables for marginal and small-scale farmers of developing economies like India. In this research, the authors forecast the sales of commonly used fresh vegetables for small-scale farmers of Kerala in India based on a set of 130 weekly time series data obtained from the Kerala Horticorp.

Keywords: Small-scale farmers; Forecasting; Vegetables; Retail channels; LSTM; CNN; ARIMA; Moving average (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jadeep:jadee-03-2023-0075

DOI: 10.1108/JADEE-03-2023-0075

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