TIME SERIES ANALYSIS OF RETAIL MILK PRICES IN TAMIL NADU STATE OF INDIA

A. Serma Saravana Pandian; Vetrivel. D; U.Pradheeshwaran; P.Vinothraj

Volume : V, Issue : XII, December - 2015

TIME SERIES ANALYSIS OF RETAIL MILK PRICES IN TAMIL NADU STATE OF INDIA

A. Serma Saravana Pandian, Vetrivel. D, U. Pradheeshwaran, P. Vinothraj

Abstract :

A study was carried out to analyze the trend and seasonal variation of retail milk prices in major consumption centres of Tamil Nadu, India. The data on monthly retail milk prices for the period from April 1990 to March 2012 were collected from various secondary sources. The retail milk price trend equation fitted for selected four major consumption centers of Tamil Nadu revealed that the milk price had increased at the rate of 0.058 (Chennai), 0.071 (Madurai), 0.072 (Coimbatore), and 0.059 (Nagercoil), paise per litre of milk on every month. The intercept of trend equations was fitted for four consumption centers of Tamil Nadu were found to be around 4.159 (Chennai), 3.865 (Madurai), 3.065 (Coimbatore) and 4.093 (Nagercoil). The monthly milk price index was observed to be the maximum and minimum variations seen on subsequent months. The seasonal retail milk price index was found to be the highest during the month of June, July and November and the lowest during the month of August and November.