Abstract

As indicated by various works of literature, climate change has a significant impact on agricultural commodities resulting in variation between demand and supply. The research study adopted quantitative analysis for comparative analysis of price relationships for three pairs of agricultural commodities against closely related products and how weather impacts them. As an interesting comparison, we also selected a pair of non-agricultural commodities for analysis. Downloaded data for the analysis were daily historical price data for the commodities, and daily summary of weather data for precipitation and temperature for the regions were the selected commodities are most produced. Using programming languages like Python and R, we carried out exploratory data analysis using the following statistics, such as graphs, scatter plots of returns, QQ plots for normality, time series diagnostics (AC, PAC) ARIMA, correlation. An exciting part of our work is our model selection, where we used SARIMAX for regressing endogenous data, i.e., commodity prices and exogenous data weather data.

How to Cite
OLANIYO, ADEBANJO ADENIYI, FRANKLYN OGBEIDE OKOGUN, Opiribo. Assessing the Price Relationship and Weather Impact on Selected Pairs of Closely Related Commodities Assessing the Price Relationship and Weather Impact on Selected Pairs of Closely Related Commodities. Global Journal of Computer Science and Technology, [S.l.], aug. 2021. ISSN 0975-4172. Available at: <https://computerresearch.org/index.php/computer/article/view/2045>. Date accessed: 23 jan. 2022.