Abstract: Methods, systems and computer readable code for forecasting commodity consumption and for forecasting time series are provided. According to some embodiments, the forecasting includes deriving at least one population commodity consumption forecasting model from population historical consumption data, deriving an individual commodity consumption forecasting model for at least one individual of the population from at least one population commodity consumption forecasting model and from individual historical consumption data, and forecasting future individual commodity consumption for the individual using individual commodity consumption forecasting model. According to some embodiments, the presently disclosed forecasting includes forecasting future values of an individual time series within a population of time series, where each time series on the same domain.