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Indian Journal of Pure & Applied Biosciences (IJPAB)
Year : 2019, Volume : 7, Issue : 6
First page : (171) Last page : (175)
Article doi: : http://dx.doi.org/10.18782/2582-2845.7856

Price Behaviour of Pigeon Pea in Kawardha market (mandi) of Chhattisgarh

Akhilesh Kumar Gupta^1*, Ravi Ranjan Kumar² and Akhilesh Kumar Singh^1
1Department of Agricultural Statistics and Social Science (L.), College of Agriculture, Raipur (C.G.)
²Department of Agricultural Statistics, Institute of Agriculture, Visva Bharati Shantiniketan (W.B.)
*Corresponding Author E-mail: ak1947rocks@gmail.com
Received: 6.10.2019  |  Revised: 13.11.2019   |  Accepted: 20.11.2019  

 ABSTRACT

This study was an attempt to fulfil the requirement of regional farmers for accurate and reliable market information regarding the prices of pigeon pea in Kawardha market of Chhattisgarh. Monthly time series data of prices from April 2009 to June 2019 (123 months) was used to forecast the same for future 24 months i.e. July 2019 to June 2021. Overall trend of pigeon pea prices were found to be increasing over the study period. Seasonal indices indicate that the price is almost similar over the year but picks up a little from August to October. Seasonal ARIMA models ARIMA(2,1,1)(1,0,1)[12] was identified as best fitted model for price of pigeon pea based on lowest AIC, RMSE and MAPE and highest R2 values. The fitted values of prices were found to be very close to the observed values. The data analysis is carried out using R.

Keywords: ARIMA, forecast, AIC, MAPE, RMSE.

Full Text : PDF; Journal doi : http://dx.doi.org/10.18782

Cite this article: Gupta, A.K., Kumar, R.R., & Singh, A.K. (2019). Price Behaviour of Pigeon Pea in Kawardha market (mandi) of Chhattisgarh, Ind. J. Pure App. Biosci. 7(6), 171-175. doi: http://dx.doi.org/10.18782/2582-2845.7856