Abstract
Sugarcane is the primary agricultural industry that sustains and promotes economic growth in India. In 2018, the majority of India's sugarcane production, specifically 79.9%, was allocated for the manufacturing of white sugar. A smaller portion, 11.29%, was used to produce jaggery, while 8.80% was utilized as seed and feed components. A total of 840.16 million metric tonnes of cane sugar was shipped in the year 2019. The primary objective of this research is to determine the most suitable forecasting model for predicting the monthly export price of sugarcane in India. The input consists of a time series with 240 monthly observations of the export price of sugarcane in India, spanning from January 1993 to December 2013. The SARIMA approach was employed to predict the monthly export price of sugarcane and it is concluded that the SARIMA (0, 1, 1), (0, 0, 0)12 model is the best-fitted one by the expert modeler method. As a result, the fitted model appears to be adequate. The RMSE and MAPE statistics are used to analyze the precision of the model.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
