Republic of South Korea

South Gyeongsang Province offers crop price forecasting service

South Gyeongsang Province is offering forecasts for prices of various crops to help the province’s growers boost their income. These forecasts are artificial intelligence (AI) and big data-based. The province introduced the price forecast system last April, the first of its kind in South Korea.

The system offers forecasts on the prices of garlic, onions and 10 other primary agricultural products based on big data analysis.

The system provides visualized, field-based, statistical data based on the price analysis of 32 wholesale markets located across the country, as well as baseline data from the Korea Meteorological Administration, Statistics Korea and other related institutions.

Growers can access the system anywhere at any time using smartphones and other devices to check current price in the wholesale market as well as the big data-based price forecasts, allowing farmers to generate a stable income by adjusting the timing of their harvesting and shipping to meet demands.

Source: koreabizwire.com


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