10 June 2011

2011
In May 2011, the prices of the imported commodities declined Prices of oil and raw material imports - May 2011

In May, the price of oil in dollars fell (-6.9% after +7.9% in April) to $115.1 per barrel of Brent. The foreign currency prices for non-energy commodities imported in France also fell (-3.8% after +0.3% in April).

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The price of oil decreased
The prices of industrial raw materials folded
Lower prices of raw food materials continued

In May, the price of oil in dollars fell (-6.9% after +7.9% in April) to $115.1 per barrel of Brent. The foreign currency prices for non-energy commodities imported in France also fell (-3.8% after +0.3% in April).

The price of oil decreased

In May, the prices in dollars of oil from the North Sea (Brent) declined (-6.9% after +7.9%). In euros, the decline in oil prices has been slightly lower (-6.1%) due to the depreciation of the euro against the dollar (-0.8%). The continuing rise in oil price since mid-2010 (+65.4% in dollars between June 2010 and April 2011) was then interrupted.

The prices of industrial raw materials folded

In May, the prices of industrial raw materials in foreign currencies fell (-4.5% after +0.9%). The prices of mineral raw materials also fell (-4.0% after +1.7%). The prices of precious metals have been returned (-5.5% after +9.4%), in particular the price of silver (-12.4% after +17.2%). The prices of nonferrous metals have also folded (-4.8% after +1.7%) for copper and aluminium, which accounted for +24.8% of non-energy commodities imported in France in 2010, they fell respectively by 5.9% and 2.7%.

Meanwhile, the falling of the prices of agro-industrial raw materials increased (-6.0% after -1.5%). The prices of sawn timber of conifers highly folded (-13.5%) and those of natural rubber (-9.2%) and natural textiles fibers (-19.8%). In particular, cotton prices fell sharply (-22.6%) because of bumper crops in the Southern Hemisphere (Brazil and Australia).

Lower prices of raw food materials continued

In May, the prices of raw food in foreign currencies declined again (-2.5% after –0.7%). Sugar prices continued to fall sharply (-14.1% after –9.7% in April already) because of improved prospects for crops in major producing countries. Prices of beef meat also fell (-5.9%) and those of cereals decreased slightly (-0.5%), mainly corn (-4.3%).

tableautabpetrole – Oil and petroleum products

in dollar

Oil and petroleum products (in dollar)
	Prices	Change (%)
	of last month	over the last month	over the last 3 months	over the last 12 months
Brent in $ per barrel	115,1	–6,9	11,2	52,0
Brent in € per barrel	80,3	–6,1	5,9	33,0
Gasoline	1072,1	–5,9	22,2	48,3
Gas Oil	937,5	–8,3	6,5	43,6
Heavy fuel	603,6	–4,4	11,7	43,7
Naphta	1038,6	–1,3	18,5	52,2

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	268,5	–2,5	–3,6	26,4
Tropical beverages	298,4	–1,2	–3,4	29,5
Oil seeds, vegetable oils	290,7	–0,9	–3,1	30,8
Cereals	284,5	–0,5	–1,8	39,7
Sugar	268,3	–14,1	–31,2	49,6
Beef meat	158,4	–5,9	2,2	4,9
Industrial raw materials	269,1	–4,5	–4,1	17,0
Agricultural raw materials	160,6	–6,0	–8,1	5,5
Natural Fibers	323,4	–19,8	–19,3	82,5
Natural rubber	548,4	–9,2	–15,9	45,1
Hides	105,1	–4,6	–8,1	–8,8
Wood pulp	147,2	0,7	5,2	5,6
Tropical wood	158,6	1,5	3,0	14,3
Sawn softwood	88,3	–13,5	–21,3	–16,6
Minerals	327,8	–4,0	–2,7	21,4
Iron ore	622,6	0,0	–2,3	1,6
Non-ferrous metals	287,6	–4,8	–4,6	23,3
Precious metals	446,0	–5,5	11,1	47,0
All commodities	258,6	–3,8	–3,9	20,3