Milk Production Forecast Analysis in Romania - A Problem to Possible Solutions Approach

Abstract

Abstract Romania is a country located in southeastern Europe, known for its rich history, culture, and agriculture. One of the most important agricultural sectors in this country is milk production. In recent years, the milk production industry has faced numerous of challenges. In this direction, the aim of our paper was to use the exponential smoothing method of forecasting in order to analyse the milk production future trends, based on empirical data provided by FAOSTAT, and to provide some insights regarding possible solutions. According to our observations, in the following period (2023-2033) the milk production tends to slowly decline, situation that impose some measures. In conclusion, regarding the forecasted situation, Romania can avoid the milk production decline and improve the current situation by adopting and implementing some preventive measures.