DOIONLINE 
DOIONLINE Publish In |
International Journal of Management and Applied Science (IJMAS)-IJMAS |
 Journal Home Volume Issue |
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Issue |
Volume-3,Issue-6 ( Jun, 2017 ) | |||||||||
Paper Title |
Application of Sarima Model in Cardamom (Large) Price Forecast in Gangtok Market | |||||||||
Author Name |
Nidhi Dwivedy | |||||||||
Affilition |
Guest Faculty-Central University of Rajasthan | |||||||||
Pages |
13-19 | |||||||||
Abstract |
Purpose – The price behaviour of a commodity plays crucial role in farm level crop production planning. Therefore, this paper mainly intends to forecast the monthly Cardamom (Large) price for the period of August 2015 to July 2017 using statistical time-series modelling techniques. Methodology – Box-Jenkins Seasonal Autoregressive Integrated Moving Average (SARIMA) was employed to analyse domestic monthly wholesale Cardamom (Large) Price data in Gangtok Market from April 2011 to July 2016. The forecasting performance of these models have been evaluated and compared by using common criteria such as: mean square error MSE, mean absolute percentage error MAPE, root mean square error RMSE, tracking signal TS, Akaike Information Criteria (AIC) and Schwarz's Bayesian Information criterion (SBC). MAD. Findings – By working on stata 13, a seasonal ARIMA (p,d,q) (P,D,Q)12 model is constructed based on autocorrelation and partial autocorrelation. Finally, forecasts were made based on the model developed. On validation of the forecasts from these models, Seasonal ARIMA (1, 1, 1) (0, 1,1)12 model performed better than the others for cardamom prices in Gangtok market. The validation percentage ranged between 92 to 116 per cent from August 2015 to July 2016. The forecast results did not reveal any specific pattern in the cardamom prices. Originality/value – The author has developed a SARIMA model. Thus, SARIMA model can be used to predict the future price of cardamom in Gangtok Market of Sikkim State. Keywords - Large Cardamom; Price Forecast; Gangtok; Sikkim; SARIMA model; | |||||||||
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