Forecasting Prices and Production of Pulses in Faisalabad Market, Pakistan

Khuda Bakhsh, Muhammad Hassan Akhtar and Rajendra Adhikari
Additional contact information
Khuda Bakhsh: Professor, Department of Economics, COMSATS University Islamabad, Vehari Campus, Pakistan
Muhammad Hassan Akhtar: Lecturer, Department of Economics, COMSATS University Islamabad, Vehari Campus, Pakistan
Rajendra Adhikari: Senior Lecturer, School of Agriculture and Food Sustainability, The University of Queensland, Australia

Bulletin of Business and Economics (BBE), 2024, vol. 13, issue 1, 105-109

Abstract: Forecasting values of prices and production are important for value chain actors because they can plan their activities while considering these values in mind for improving profitability. The present study is designed to determine forecasting values of production and prices of mung bean lentil and chickpeas using arrival quantity of pulses in the big market of pulses in Punjab i.e. Faisalabad. Similarly price data is used to forecast future prices of pulses. ARIMA model is employed to determine forecasting arrival quantities and prices of pulses using monthly data from January, 2018 to June, 2023. Results show that there is no smooth price increases in mung beans during different months of a year. A declining value of lentil and chickpeas is an alarming indications for all value chain actors. Estimated values based on ARIMA models for price and arrival quantities of pulses have important implications for the producers and wholesalers dealing in pulses particularly chickpeas mung beans and lentil. A declining forecasting value of lentil and chickpeas leaves a serious thought on the sustainability of value chain of these pulses in the province. A declining supply in the market with an increase in the price of lentil in future will affect stakeholders of supply chain of lentil.

Keywords: : Forecasted value; Production; Prices; pulses (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
https://bbejournal.com/BBE/article/view/702/695 (application/pdf)
https://bbejournal.com/BBE/article/view/702 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rfh:bbejor:v:13:y:2024:i:1:p:105-109

DOI: 10.61506/01.00216

Access Statistics for this article

Bulletin of Business and Economics (BBE) is currently edited by Dr. Muhammad Irfan Chani

More articles in Bulletin of Business and Economics (BBE) from Research Foundation for Humanity (RFH) Contact information at EDIRC.
Bibliographic data for series maintained by Dr. Muhammad Irfan Chani ().