Forecasting Carrot Production in India using ARIMA model with the data from 2011 to 2022

Abstract

Carrot crop contributes significantly towards the agricultural sector. This study aims to apply the ARIMA model inorder to forecast the carrot production in India. We do so by comparing various ARIMA models and picking the suitable one based on the AIC value. We then use this model to predict the production of carrot for the next 10 years. This can help the stakeholders like the policymakers and the farmers to take efficient decisions with respect to resource allocation and the price setting. This will mean there will be a balance between the demand and the supply. The JMP software is used to do the complete analysis and we have utilised the historical data of carrot production from the years 2011 to 2022. We forecast the production values from the years 2023 to 2032.

Cite as:

Vinay C. (2024). Forecasting Carrot Production in India using ARIMA model with the data from 2011 to 2022. Journal of Applied Mathematics and Statistical Analysis, 5(3), 38–45. 

https://doi.org/10.5281/zenodo.14216225