Time Series Analysis for Vegetable Price Forecasting in E-Commerce Platform: A Review

Abstract

Abstract Vegetables industry plays an important role especially in providing the abundant fresh agricultural products. Forecasting the vegetable price is vital in agriculture sector for effective decision making. In Malaysia, the problems faced by the farmers are not only their age, but also their competitive skill where the wholesale market and the hypermarket/supermarket are prioritized by the consumers in Malaysia for the fresh vegetables and fruits. This review article helps to recognize the current problems faced by the agricultural sector of Malaysia and study the relationship between the agriculture and E-Commerce. Recent researchers have mentioned the growth of the E-Agribusiness and the authors found the potential of an Agricultural E-Commerce platform with price forecasting model in solving the current national issue. This research reviews the existing agricultural E-Commerce platforms in worldwide and try to compare with the local one. After the reviews have been done, the authors bring up an idea in constructing the time analysis model in hybrid approach for veggies price forecasting in an agricultural E-Commerce platform which can be used by the government in deriving their policies.