Strengthening Food Security: A Comparison of Food Import Forecasting Models

Food security relies on factors like availability, access, and stability, often assisted by food imports when local production falters. Importantly, these imports stabilize supplies, mitigate shortages and price volatility, and enhance economic stability. Anticipating import requirements is vital for proactive food security planning. In this case study, we employ multiple forecasting models to predict food import for a large number of products from multiple countries. The results highlight varying algorithm performance across datasets. Traditional statistical models remain highly competitive compared to newer alternatives, especially for shorter time series. Our study introduces a multi-model forecasting approach to predict periodic food imports, a pivotal tool for food authorities.