Forecasting of litopenaeus vannamei prices with artificial neural networks

Abstract

The shrimp industrial has been growing very fast in the past decade in China. L.Vannamei is the major kind of shrimp cultured in China and its production contributes over 60% of the total production volume in 2010. The price of L.Vannamei is particularly important to L.Vannamei farmers and the upstream and downstream firms. However, it is difficult to predict as it is affected by many macro and micro factors. In this paper, we introduce an approach to apply artificial neural networks (ANNs) to forecast L.Vannamei prices. Experiments shows that our approach achieves 2.64%'s error in the past months on an average. This is the very first work in applying ANNs in this area. © 2011 Springer-Verlag Berlin Heidelberg.