Forecasting Model for the Value of Areca Nut’s Export of Thailand
Having accurate information about the agricultural situation is very important. The predicting trends of agricultural product will allow to make right decision in economy nowadays. The aims of the paper are to demonstrate the trend in areca nut export in Thailand and import in India to specific period and to plan our strategy and policies accordingly to promote areca nut production and export. With this meaning, a study on areca nut export in Thailand and import and production in India from 2013 to 2020 was conducted. The result found that Exponential Growth Model is the most effective for forecasting in the export and import volume of areca nut. The data also was illustrated the trends in 5 years from 2021- 2025. The result revealed that the forecasting trend of export volume of areca nut in Thailand for 2021 – 2025 is linearly decreasing from 3.47610MTs in 2020 to 0.450858MTs in 2025. While, the forecasting trend of import volume of areca nut in India for 2021 – 2025 is linear increasing gradually, from35.5783 MTs in 2020 to 37.2886 MTs in 2025. Areca nut should be considered as an economics crop significantly of Thailand in future for export of Thailand because there are needs in the international market and price still be reasonable. Driving and implementing sustainable agriculture should focus on efficiency and effectiveness truly.