A novel machine learning approach to predict the export price of seafood products based on competitive information: The case of the export of Vietnamese shrimp to the US market.

ABSTRACT: Predicting the export price of shrimp is important for Vietnam's fisheries. It not only promotes product quality but also helps policy makers determine strategies to develop the national shrimp industry. Competition in global markets is considered to be an important factor, one that significantly influences price. In this study, we predicted trends in the export price of Vietnamese shrimp based on competitive information from six leading exporters (China, India, Indonesia, Thailand, Ecuador, and Chile) who, alongside Vietnam, also export shrimp to the US. The prediction was based on a dataset collected from the US Department of Agriculture (USDA), the Food and Agriculture Organization of the United Nations (FAO), and the World Trade Organization (WTO) (May-1995 to May-2019) that included p

SUBMITTER: Khiem NM 

PROVIDER: S-EPMC9522284 | biostudies-literature | 2022

REPOSITORIES: biostudies-literature