Search results

1 – 1 of 1
Per page
102050
Citations:
Loading...
Available. Open Access. Open Access
Article
Publication date: 4 December 2024

Bingzi Jin and Xiaojie Xu

Developing price forecasts for various agricultural commodities has long been a significant undertaking for a variety of agricultural market players. The weekly wholesale price of…

54

Abstract

Purpose

Developing price forecasts for various agricultural commodities has long been a significant undertaking for a variety of agricultural market players. The weekly wholesale price of edible oil in the Chinese market over a ten-year period, from January 1, 2010 to January 3, 2020, is the forecasting issue we explore.

Design/methodology/approach

Using Bayesian optimisations and cross-validation, we study Gaussian process (GP) regressions for our forecasting needs.

Findings

The produced models delivered precise price predictions for the one-year period between January 4, 2019 and January 3, 2020, with an out-of-sample relative root mean square error of 5.0812%, a root mean square error (RMSEA) of 4.7324 and a mean absolute error (MAE) of 2.9382.

Originality/value

The projection’s output may be utilised as stand-alone technical predictions or in combination with other projections for policy research that involves making assessment.

Details

Asian Journal of Economics and Banking, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2615-9821

Keywords

Access

Only content I have access to

Year

Content type

1 – 1 of 1
Per page
102050