Favorit: farmers volatility risk treatment

03/23/2022

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by   Dadasaheb G. Godase, et al.

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This paper seeks to develop a strategy based on analytics, for an individual Indian farmer to tackle market price fluctuations. The idea is to select a month (or a week or a day) on which to take the produce to market for a good return on the sale. The choice is based on the history of price data and associated variability. Market-wise price data for the last decade or so are used. These ideas are applied to three vegetable crops, tomato, onion, and coriander for some markets in the state of Maharashtra. It is proposed that similar work should be done crop-wise and market-wise for different parts of India by local academic groups from any of the subjects such as statistics, analytics, data science, agriculture, business management, commerce, and economics. The objective is to mitigate the adverse impact of price fluctuation on farmers.