2. BACKGROUND NOTE: Mobile App to Forecast Agricultural Price Trend
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Table of Content
I. Executive Summary:............................................................................................................2
II. Background:.........................................................................................................................2
III. Objective / Purpose:.............................................................................................................3
IV. Target User ..........................................................................................................................3
V. User Interface.......................................................................................................................4
VI. Data......................................................................................................................................6
VII.Technology/Development....................................................................................................6
3. BACKGROUND NOTE: Mobile App to Forecast Agricultural Price Trend
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I. EXECUTIVE SUMMARY:
In spite of globalization and modernisation of India economy still 70% of the population
lives in rural areas and Agriculture is the primary source of livelihood. According the
McKinsey study, it shows that Indian farmers get only 25% of the retail prices in Indian
Condition, whereas the same is 70% in the developed nation where more robust marketing
and pricing system is in place. To benefit the farming communities from the new global
market access opportunities, the internal agricultural marketing system of the country needs
to be integrated and strengthened.
The ministry of Agriculture together with Ministry of Communication and Information
technology have already set up an online portal to display the prices of agricultural
commodities trading across the mandis through AGMARKNET and the online platform has
significantly impacted farmers, as on an average they receive better prices by selling in
mandis.
Hence, based on the information available from AGMARKNET on agricultural
commodities we propose a mobile app which will have the following salient features:
• Tracking prices of agricultural commodities across mandis present in India
• User can compare prices of commodities trading in the nearest mandis.
• Forecasting the price trend of commodities trading in mandis.
II. BACKGROUND:
Forecasting the price trend in today’s volatile markets is by no means easy. This mobile
application is therefore aimed to monitor major commodity markets across various states in
India and leverage the latest prices of commodities on a daily basis. Forecasting engine will
be running within the application to predict for the next weekly price trend of commodities
across markets.
The application provides appealing visualization of region wise price comparison of various
commodities across the markets. This enables Indian Farmers to get a better idea of which
market offers the best price of their Farm produce and also help predict future movements of
commodity prices in the long run.
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III. OBJECTIVE / PURPOSE:
The Mobile Forecasting App project seeks to empower Indian Farmers from price
volatility of commodities in the mandis by giving them an advance forecast of the
prices.
The current price and the forecasted price trend will help farmers to decide when to
take their agricultural produce in the mandis to get a better price.
Marketing today depends on information system, i.e. on adequate information about what
people want, at what price and who can supply it. Studies have clearly shown that farmers get
good prices when they sell their produce to the regulated markets compared to rural, villages
and unregulated markets. The locus of agricultural growth has been shifted from production
front to processing and marketing front. The investment in agricultural marketing sector will
go a long way in making agriculture sector vibrant and enable it to face the competition of
International trade environment without adversely affecting the livelihoods of those who
depend on farming.
It is therefore important to protect Indian Farmers from uncertainty of prices through effective
monitoring and develop appropriate mechanism by integrating technology and through
statistical knowledge. Following objectives should be met though the list, although the list is
not exhaustive:
1. Empowering Farmers by giving them a better price in the market
2. Future outlook and trends in agricultural prices
3. Comparison of mandi prices across markets through simple visualization.
4. Farmers will get an idea as when to take the agricultural produce to the mandis.
IV. Target User
Farmer’s
Government Agencies
Traders
Companies engaged in Agriculture
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V. User Interface
SCREEN 1:
SCREEN 2:
Welcome to Agro Live App
Click Enter to Login to the App
Select from the dropdown list:
State
District
Commodity
Enter Go
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SCREEN 3:
SCREEN 4:
Click the Table mark in Red
This screen gives you a tabular view of the
selected commodity price across various
mandis in that district.
User can compare prices among multiple
mandis and based on this the user can
make an informed decision of the best
available price.
Here user gets a line chart depicting price
trend of the commodity for the last 40 days.
In addition to this user can also see the
maximum and minimum price of the
commodity in that state over the same time
period.
This gives user an idea on how the market
has performed over the last 4 weeks based
on which user can predict the market
behaviour for tomorrow.
The red line gives the commodity price
trend in the selected district; the green line
gives maximum and blue line the minimum
prices of commodity in the state.
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VI. Data
Source of Data: http://agmarknet.nic.in/ , www.data.gov.in
Dataset Used: http://data.gov.in/sites/default/files/Date-Wise-Prices-all-Commodity.xml
Data Description: Daily Prices of Commodities, Mandi Information
VII. Technology/Development
License: GPL
VIII. Disclaimer
Dataset used for this app is loaded from data.gov.in
The format of the data set is XML, which is updated on a daily basis.
The App will contain only the data being provided by data.gov.in
The App is not responsible for mismatch of the prices across mandis.
The App will be able to show the price trend after 40 days from the release.
