Production and Consumption of Corn in Ghana: Forecasting Using ARIMA Models

This study describes an empirical study of modeling and forecasting production and consumption of corn in Ghana using ARIMA models. The study revealed that ARIMA (2, 1, 1) and ARIMA (1, 1, 0) were the appropriate models for forecasting production and consumption respectively. Our forecast showed an increasing pattern in consumption and production of corn. Despite the increase in production, government has to still invest money into corn production, motivate corn farmers, and implement good policies for better land tenure systems for corn cultivation to ensure that production always exceeds consumption to avoid importation of corn into the country. This is imperative because importation could lead to high prices of corn and increase inflation rate, hence affecting the economy of the country.