Farm Air Hankyung, a big data and artificial intelligence (AI)-based agricultural product price prediction system written by Farm Air, an agricultural product price analysis and forecasting company and published by the Korea Economic Daily, is continuing to evolve.
In April of last year, for the first time in Korea, real-time transaction prices of 22 agricultural products and price predictions after 3 to 6 months were calculated and disclosed, followed by the operation of the prediction system of the Agricultural Products Comprehensive Transaction Index (KAPI) to make it easier for market participants to understand price changes It even provides an AI news system that can be grasped.
Farm Air Hankyung is a comprehensive price index that standardizes the transaction prices of the top 22 items based on volume and price in the domestic agricultural wholesale market in kilograms, and is referred to as the’Palm Air and Hankyung’s Korea Agricultural Product Price Index (KAPI). It is released through the site of Terran (www.terran.kr) under the name.
On this site, you can inquire up to real-time transaction prices and predicted future prices for each item of 22 agricultural products. This site is operated for a fee for related companies and organizations.
From April, Farm Air Hankyung operates the KAPI forecasting system that allows you to know the trend of the entire agricultural product market. KAPI’s index prediction was developed as an index to predict the price volatility of agricultural products for the first time in Korea.
Just as the KOSPI index reflects the overall stock market flow, KAPI’s forecast information provides a comprehensive view of the market flow of major agricultural products. The Palm Air Hankyung prediction system provides 3 months of prediction information at the beginning of each month.
Terran also plans to provide an AI news service next month. It is a service that visualizes and shows changes in prices and trading volumes of major agricultural products, as well as AI creates inflation-related news in seconds.
Terran service users and information agencies can receive various types of agricultural product price analysis articles in real time at any time they want instead of weekly, monthly, or daily.
Palm Air Hankyung plans to expand the range of price information and prediction services to livestock products in the first half and fisheries within the year. The aquatic products process data from 35 public wholesale markets nationwide so that you can see real-time successful bid prices of 38 types of seafood at a glance. Price information of livestock products scattered in slaughterhouses and auction markets across the country is also collected so that distributors can compare and analyze them.
Reporter Bora Kim [email protected]
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