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In July 2012, the prices of imported raw materials rebounded

Price of oil and imported raw materials – July 2012

In July, the price of oil in dollars rebounded sharply (+6.0% after –13.5% in June). It stood at $102.3 per barrel of Brent. Meanwhile, the foreign currency prices for non-energy commodities imported into France have significantly rebounded (+2.2% after –3.2% in June).

The oil prices rose sharply

In July, the dollar price of oil from the North Sea (Brent) has increased strongly (+6.0% after -13.5%). In euros, the rise in oil prices was more pronounced (+8.2% after –11.8 %), due to the depreciation of the euro against the dollar (-2.0%).

The prices of industrial raw material continued to fall

In July, the prices of industrial raw materials in foreign currencies continued to fall (-1.0% after -4.0% in June). The prices of mineral raw materials has recorded a smaller drop than in June (-1.1% after -4.1%). The prices of nonferrous metals were flat (+0.0% after –5.3%), despite the rise in copper prices (+2.3%). However, the decline in the prices of precious metals was higher than in June (-1.2% after –0.6%), including those of silver (-2.2%) and palladium (-5.4), whose decline in prices was strongly linked to the deteriorating outlook of the global automotive industry.

On the other hand, the prices of agro-industrial raw materials have continued to decline (-0.9% after –3.6%) with a further decline in the prices of sawn softwood of conifers (-1.9% after –1.8%).

The prices of raw food materials rebounded sharply

In July, the prices of raw food materials in foreign currencies were significantly higher (+7.7% after -1.8%). Indeed, higher prices of oilseeds (+15.8% after -0.4% ; particular, the soybean : +17.2% and soybean meal : +22.0%), and cereals (+5.6% after –1.4%, mainly corn : +28.9%), were supported by the drought that reduced harvests in the United States. Similarly, the prices of tropical foodstuffs have rebounded sharply (+4.9% after –4.1%), due to higher prices of cocoa (+3.7%) and especially of arabica (+14.8%). The prices of sugar have significantly accelerated (+11.3% after +1.0%). Indeed, untimely rains in Brazil, world’s largest exporter of sugar, hampered the harvest.

Oil

Oil

Source : INSEE

Food

Food

Source : INSEE

All commodities

All commodities

Source : INSEE

Industrial raw materials

Industrial raw materials

Source : INSEE

Oil and petroleum products
in dollar
Prices are in dollars per tonne unless otherwise specified
Source : INSEE
Prices Change (%)
Over the last month over the last month over the last 3 months over the last 12 months
Brent in $ per barrel 102,3 6,0 –15,3 –12,3
Brent in € per barrel 83,2 8,2 –9,2 2,0
Gasoline $/L 0,7 5,2 –14,1 –8,8
Gas Oil 890,1 5,5 –11,4 –8,1
Heavy fuel 634,2 6,3 –14,5 –8,1
Naphtha 824,9 12,7 –20,3 –15,7
Imported raw materials (excluding energy) in domestic currency
base 100 in 2000
Source : INSEE
Index Changes (%)
over the last month over the last 3 months over the last 12 months
Food total 274,7 7,7 6,7 1,8
Tropical foodstuff 227,0 4,9 1,5 –21,9
Oil seeds, vegetable oils 362,1 15,8 16,9 26,2
Cereals 315,1 5,6 6,4 11,6
Sugar 279,4 11,3 –1,0 –22,8
Beef meat 158,7 –5,0 –4,8 0,0
Industrial raw materials 239,5 –1,0 –7,8 –21,4
Agricultural raw materials 143,3 –0,9 –3,3 –12,7
Natural Fibers 175,6 1,9 –15,2 –31,9
Natural rubber 370,7 0,3 –18,0 –32,7
Hides 105,4 0,0 0,1 –1,4
Wood pulp 123,8 –0,9 –0,2 –16,1
Tropical wood 141,8 –0,6 –4,3 –11,0
Sawn softwood 114,3 –1,9 4,9 16,3
Minerals 290,8 –1,1 –9,3 –24,1
Iron ore 1027,6 –5,0 –13,3 –26,0
Non-ferrous metals 220,7 0,0 –8,4 –24,7
Precious metals 393,3 –1,2 –8,0 –14,5
All commodities 242,1 2,2 –2,6 –13,7

Informations Rapides

n° 204 - August 16, 2012

Prices of oil and raw material imports - July 2012

Next issue June 12t,h, 2013 - May 2013

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Since July 2009, display of the Informations Rapides has changed.