Agricultural product price forecasting methods: research advances and trend. Issue 7 (26th March 2020)

• Record Type: Journal Article
• Authors: Wang, Luyao; Feng, Jianying; Sui, Xiaojie; Chu, Xiaoquan; Mu, Weisong
• Is Part Of: British food journal. Volume 122:Issue 7(2020)
• Page Start: 2121
• Page End: 2138
• Publication Date: 2020-03-26
• Subjects: Agricultural products -- Price forecast methods -- Traditional forecasting method -- Intelligent forecasting method -- Hybrid forecasting method; Food industry and trade -- Periodicals; Food -- Marketing -- Periodicals; Food adulteration and inspection -- Periodicals; Food -- Periodicals; 381.456413
• DOI: 10.1108/BFJ-09-2019-0683
• Languages: English
• ISSNs: 0007-070X

Abstract

Abstract : Purpose: 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/approach: This 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. Findings: 1) 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/value: The 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.