Potato Price Dynamics in the Eastern Himalayan Region: A Case Study of Meghalaya
N. Uttam Singh
Division of Technology Assessment and Capacity Building, ICAR-Research Complex for North Eastern Hill Region, Umiam, Meghalaya (793 103), India
Abhishek Thakur*
Division of Technology Assessment and Capacity Building, ICAR-Research Complex for North Eastern Hill Region, Umiam, Meghalaya (793 103), India
A. Roy
Division of Technology Assessment and Capacity Building, ICAR-Research Complex for North Eastern Hill Region, Umiam, Meghalaya (793 103), India
Pampi Paul
Division of Technology Assessment and Capacity Building, ICAR-Research Complex for North Eastern Hill Region, Umiam, Meghalaya (793 103), India
Anjoo Yumnam
Division of Technology Assessment and Capacity Building, ICAR-Research Complex for North Eastern Hill Region, Umiam, Meghalaya (793 103), India
B.P. Singh
Division of Technology Assessment and Capacity Building, ICAR-Research Complex for North Eastern Hill Region, Umiam, Meghalaya (793 103), India
DOI: NIL
Keywords: Forecasting, Potato, Time series, Trend
Abstract
The present study was undertaken with a view to find out how the price of potatoes changes in Meghalaya, a small state in the eastern Himalayas and is predominantly an economic activity in terms of potato farming. To analyze monthly price fluctuations during the period 2002-2023, simple yet powerful time series forecasting models, such as GARCH and ARIMA, are used instead. The forecasted values for the price of potato from October, 2023 to February, 2024 had an upward trend, implying that the farmers and policymakers would benefit in making better decisions with regard to reducing the risk and for better profit. The primary goal of this is to help policymakers create practical market supply chain solutions that will gradually stabilize the potato market. According to this study, farmers in the region deal with two significant issues: climate variability and a lack of storage facilities.
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Reference
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