Daily & weekly commodity pricing
A simplified view of commodity Futures
A personalised hub of information
Enhanced forecasting with AI
Easy-to-use, integrated pricing models
An unbiased view on local & global markets
Access data on the go with the Vesper App
Set yourself up for success by scheduling a strategy demo with one of our experts.
Find out how Vesper can help you with more than 1900+ products
From raw milk and cheeses, to high-protein whey and more
From vegetable oil and animal fats to oleochemicals, feedstocks and more
From white sugar and crystal sugar to hydrous ethanol and more
From corn flour, wheats and oats to barley, rice and more
From beef, veal and chicken to wild boar, eggs, and more
From boxboard and paper waste to tin, aluminium and more
Set yourself up for success by scheduling a strategy demo with one of our experts.
Industry news & Vesper highlights
Learn how Vesper is transforming the industry
Stay informed with Vesper updates
Get to know everything about commodities
Get your hands on valuable whitepapers
Try free versions of our commodity calculators
Join industry tailored Whatsapp groups
Join our bi-weekly webinars
Expert insights on commodities.
Get your hands on the latest marketprices for a range of products including:
We're building the most user-friendly commodity intelligence platform
Get to know the people leading the way at vesper
Get in touch to discuss how Vesper can help you and your team
View our vacancies and join the team
Discover how you can become an official partner of Vesper
Join one of the fastest growing commodity tools in the market.
In today’s dynamic market, understanding packaging price trends is essential for businesses to stay competitive and manage costs efficiently. Packaging price forecasts empower companies across industries to navigate price fluctuations, optimize procurement strategies, and safeguard profitability. In this article, we’ll explore why accurate packaging price forecasts, like those for PET bottles, are crucial for market participants, offering valuable insights to guide both buyers and sellers in their decision-making process.
Packaging price forecasts are vital for various industries, including manufacturing, retail, and logistics. Accurate forecasts allow companies to manage costs, optimize supply chain strategies, and mitigate risks associated with price volatility. Let’s consider the example of PET (polyethylene terephthalate) bottles from the UK, as shown in the price forecast generated by Vesper’s AI-driven model below.
This forecast reveals both historical prices and a predicted price trend, offering critical insights to different market participants:
For buyers, such as beverage manufacturers, price forecasts are essential for planning procurement strategies. If the forecast indicates that PET bottle prices are expected to rise, buyers can purchase larger quantities now or lock in future contracts to avoid higher costs. For example, a beverage company that relies heavily on PET bottles might observe the forecast showing an upward trend in prices for 2024. To avoid increased costs, they could decide to procure their packaging materials in advance, thus securing a more favorable price and maintaining their profit margins.
For sellers, such as PET bottle manufacturers, price forecasts allow them to make informed decisions about when to sell their inventory. If prices are predicted to rise in the coming months, manufacturers might choose to delay sales, benefiting from higher prices later. For instance, a packaging supplier might see that PET bottle prices are projected to increase throughout 2024. By holding off on sales and waiting for the market to peak, they could maximize their profit margins.
Traders can use packaging price forecasts to identify potential arbitrage opportunities. For example, the forecast for PET bottles in the UK might show an upward trend, providing an opportunity for traders to buy PET bottles at the current lower price and sell them when prices rise.
Several key factors influence the price of packaging materials, such as PET bottles, and must be carefully considered when generating accurate price forecasts. These include:
The accuracy of packaging price forecasts, including those for PET bottles, depends on various factors, such as the quality of data and the forecasting model used. Traditional price forecasting methods often rely on fundamental indicators like supply and demand, raw material costs, and economic conditions. However, while these methods provide valuable insights, they may not fully capture the complexities of the packaging market.
Vesper’s AI-driven models, on the other hand, provide a more advanced and accurate approach to forecasting. These models analyze vast amounts of historical and real-time data to deliver highly reliable predictions. In the figure below, we can see the accuracy rates of various plastic price forecasts: PET bottles show an impressive accuracy rate of 98%, while PS and EPS also exhibit a strong accuracy rate of 97%. Additionally, HDPE recycled extrusion black demonstrates a forecast accuracy of 98%. LDPE, while slightly lower, still maintains a reliable accuracy rate of 94%. This highlights the reliability of Vesper’s forecasting models for the plastic packaging market, providing crucial insights for businesses to make informed decisions based on these highly accurate predictions.
Despite the overall high accuracy, forecasting results can still vary. Continue reading to learn more about the factors that contribute to these variations in accuracy.
Although Vesper’s forecasts are highly accurate, some variability may still occur due to certain factors:
Despite these potential variabilities, Vesper’s AI models remain highly accurate and reliable. By continuously updating their forecasts based on the latest data, they provide users with the information needed to make well-informed decisions in a rapidly changing market.
Unlike agricultural commodities, packaging materials, such as PET bottles, tend to be less affected by seasonal fluctuations. However, certain factors related to seasonality can still influence packaging prices:
In addition to Vesper’s AI-driven platform, which provides highly accurate and real-time packaging price forecasts, there are several other sources where you can find reliable price forecasts for packaging materials:
By combining Vesper’s AI-driven forecasts with these additional sources, businesses can gain a comprehensive view of the packaging market and make more informed decisions about procurement and pricing strategies.
Quickly navigate this page
Was this information useful?
Share: