Abstract

Malaysia is one of the most important contributors in fisheries to the economy, as the country's GDP is rose to 12%. Hence, the fisheries price has always been an issue for Malaysian citizens. Recently, planning and decision-making in fisheries have been tough for the fisherman as they need to bear low prices despite the higher fishing cost. At the same time, the retailer receives higher fisheries prices. Thus, the fisheries prices have risen over time and are subjected to price fluctuation. This study aims to forecast the monthly price behaviour of many main varieties of fisheries that are commonly consumed by Malaysian using the method of ARIMA, MLFFN and hybrid ARIMA-MLFFN. The data used in this study is divided by two which in-sample data of 7 years from January 2010 to December 2018, while out-sample data of 2 years from January 2019 to December 2020 regards with the ex-vessel, wholesale and retail price of the fishery (Longtail tuna, Torpedo scad and Shortfin scad). Forecasts were made for the price of fisheries in the future for the next twelve months. According to the findings of this study, we concluded that all of three model: ARIMA, MLFFN and hybrid ARIMA-MLFFN are comparable models since 96% MAPE of out-sample forecast were less than 10%, which is highly accurate forecast.

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