9 July 2010

2010- n° 180
The commodities prices continued to decline in June Prices of oil and raw material imports - June 2010

In June, the price of oil fell again (-1.3% after -10.7% in May) and stood on average at $ 74.7 per barrel.

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N^o 180

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The price of oil continued to decline
The Prices of industrial raw materials continued their decline
Continued decline in the prices of raw food materials

In June, the price of oil fell again (-1.3% after -10.7% in May) and stood on average at $ 74.7 per barrel.

Prices for non-energy commodities imported by France declined again (-4.5% in foreign currencies, after -6.3% in May).

The price of oil continued to decline

In June, the dollar price of oil from the North Sea (Brent) decreased again (-1.3% after -10.7% in May). Conversely, in euros, the price increased slightly (+1.3 %) due to the depreciation of euro vis-à-vis the dollar (-2.6 %).

The Prices of industrial raw materials continued their decline

In June, the prices of industrial raw materials in foreign currencies were down again (-5.8% after -8.9% in May). On the one hand, the prices of mineral materials decreased (-5.4%). Those of non-ferrous metals prices were down (-6.7%), including nickel (-11,9%), zinc (-11.5%) and lead (-9.5%), in conjunction with a slowing chinese economy. The price of precious metals declined slightly (-0.2%) due to the declines in prices of platinum (-4.3%) and palladium (-6.7 %) while the price of gold rose (+2.3 %.

On the other hand, the prices of agricultural raw materials also declined (-7.0 %). The falling in the prices of sawn softwood (-23.9%) was somewhat compensated by higher prices for natural fiber textiles (+2.6%) and wood pulp (+1.9%).

Continued decline in the prices of raw food materials

In June, prices of raw food in foreign currencies fell again (-1.8% after -0.8% in May). The decline in the prices of cereals accentuated (-3.6% after -0.5% in May). In partcular, corn prices fell by 4.8% due to a higher production than expected in the U.S.A. Oilseeds and vegetable oils prices also decreased (-1.0%), including those of sunflower oil (-2.5%) and olive oil (-3.4%). In contrast, the prices of tropicals beverages rebounded (+3.2% after -0.8% in May), due to higher coffee prices (+11.9% for arabica and +7.8% for robusta). The price of sugar also recovered (+8.3 % after -9.4 in May).

tableautabpetrole – Oil and petroleum products

in dollar

Oil and petroleum products (in dollar)
	Prices	Changes (%)
	of last month	over the last month	over the last 3 months	over the last 12 months
Brent in $ per barrel	74,7	–1,3	–5,2	9,1
Brent in € per barrel	61,1	1,3	5,3	25,1
Gasoline	703,7	–2,6	–8,7	3,3
Gas Oil	657,7	0,7	–1,8	17,5
Heavy fuel	408,5	–2,7	–6,1	11,2
Naphta	651,9	–4,5	–10,6	15,7

Prices are in dollars per tonne unless otherwise specified
Source: INSEE

tableautabmatprem – Imported raw materials (excluding energy) in domestic currency

base 100 in 2000

Imported raw materials (excluding energy) in domestic currency (base 100 in 2000)
	Index	Changes (%)
		over last month	over the last 3 months	over the last 12 months
Food total	209,1	–1,8	–2,3	2,1
Tropical beverages	237,7	3,2	6,2	13,4
Oil seeds, vegetable oils	219,5	–1,0	–3,3	–5,3
Cereals	196,3	–3,6	–10,2	–15,8
Sugar	194,1	8,3	–17,9	1,7
Beef meat	135,6	–10,2	–3,5	10,7
Industrial raw materials	216,5	–5,8	–6,0	33,5
Agricultural raw materials	141,3	–7,0	–7,2	37,9
Natural Fibers	181,8	2,6	4,8	45,9
Natural rubber	384,1	1,6	–10,0	66,8
Hides	117,0	1,5	11,8	98,1
Wood pulp	142,0	1,9	9,6	58,0
Tropical wood	139,8	0,7	6,3	1,6
Sawn softwood	80,6	–23,9	–25,6	7,5
Minerals	255,3	–5,4	–5,5	31,9
Iron ore	612,7	0,0	74,7	74,7
Non-ferrous metals	219,3	–6,7	–13,7	26,3
Precious metals	310,3	–0,2	6,1	31,4
All commodities	208,4	–4,5	–4,7	20,6