Vol. 7, Issue 3 (2018)

Author(s):
Shruti Mohapatra, Upasana Mohapatra and Raj Kishore Mishra

Abstract:
The present study entitled “Price forecasting of Groundnut in Odisha” was undertaken with the objectives to build appropriate forecasting model and to forecast the groundnut price of Jajpur market of Odisha. The major findings explained that Seasonal ARIMA model (1,1,1) (1,0,1) was appropriate for price forecasting of groundnut in Jajpur market. The forecasted groundnut price has increased gradually from January 2018 from the level of Rs.4475.00 and reach up to Rs. 4725.00 in December 2018. The results of the study will help the farmers to take decision on time of marketing in order to reap maximum benefit. In order to encourage the farmers to continue groundnut production, price should be stabilized by introducing fairly high degree of competition among the wholesale functionaries and traders. Accordingly the farmers may be advised to reschedule their crop plan to avoid glut during postharvest season.