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Agricultural product price forecasting methods: research advances and trend

Agricultural product price forecasting methods: research advances and trend The purpose of this paper is to provide reference for researchers by reviewing the research advances and trend of agricultural product price forecasting methods in recent years.Design/methodology/approachThis paper reviews the main research methods and their application of forecasting of agricultural product prices, summarizes the application examples of common forecasting methods, and prospects the future research directions.Findings1) It is the trend to use hybrid models to predict agricultural products prices in the future research; 2) the application of the prediction model based on price influencing factors should be further expanded in the future research; 3) the performance of the model should be evaluated based on DS rather than just error-based metrics in the future research; 4) seasonal adjustment models can be applied to the difficult seasonal forecasting tasks in the agriculture product prices in the future research; 5) hybrid optimization algorithm can be used to improve the prediction performance of the model in the future research.Originality/valueThe methods from this paper can provide reference for researchers, and the research trends proposed at the end of this paper can provide solutions or new research directions for relevant researchers. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png British Food Journal Emerald Publishing

Agricultural product price forecasting methods: research advances and trend

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References (53)

Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
0007-070X
DOI
10.1108/bfj-09-2019-0683
Publisher site
See Article on Publisher Site

Abstract

The purpose of this paper is to provide reference for researchers by reviewing the research advances and trend of agricultural product price forecasting methods in recent years.Design/methodology/approachThis paper reviews the main research methods and their application of forecasting of agricultural product prices, summarizes the application examples of common forecasting methods, and prospects the future research directions.Findings1) It is the trend to use hybrid models to predict agricultural products prices in the future research; 2) the application of the prediction model based on price influencing factors should be further expanded in the future research; 3) the performance of the model should be evaluated based on DS rather than just error-based metrics in the future research; 4) seasonal adjustment models can be applied to the difficult seasonal forecasting tasks in the agriculture product prices in the future research; 5) hybrid optimization algorithm can be used to improve the prediction performance of the model in the future research.Originality/valueThe methods from this paper can provide reference for researchers, and the research trends proposed at the end of this paper can provide solutions or new research directions for relevant researchers.

Journal

British Food JournalEmerald Publishing

Published: Jun 11, 2020

Keywords: Agricultural products; Price forecast methods; Traditional forecasting method; Intelligent forecasting method; Hybrid forecasting method

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