In March 2011, oil prices acceleratedPrices of oil and raw material imports - 8th April 2011
In March, price of oil in dollars accelerated (+10.6% after +7.4% in February), reaching $114.5 per barrel of Brent. In contrast, prices of foreign currencies for non-energy com-modities imported in France fell(-0,4% after +2.7% in Feb-ruary).
In March, price of oil in dollars accelerated (+10.6% after +7.4% in February), reaching $114.5 per barrel of Brent. In contrast, prices of foreign currencies for non-energy commodities imported in France fell (-0,4% after +2.7% in February).
The price of oil accelerated
In March, prices in dollars of oil from the North Sea (Brent) accelerated (+10.6% after 7.4% in February). Political unrest in North Africa and the Midlle East continued to weigh on oil prices. In euros, oil prices rose less strongly (+7.8% after +5.1%), due to the appreciation of euro vis-à-vis the dollar (+2.6%).
Prices of imported industrial raw materials fell
In March, prices of industrial raw materials in foreign currencies fell (-0.4% after +2.4%). The prices of mineral raw materials folded up (-0.3% after 3.5%) due to lower prices of the nonferrous metals (-1.4% after +4.3%), including zinc (-5.2%), nickel (-5.1%) and copper (-3.4%). However, precious metals prices accelerated (+7.5% after +4.4%), including silver (+16.4%) and gold (+3.7%). The prices of palladium and platinum folded up (respectively -7.3% and -3.1%).
The prices of agro-industrial raw materials also declined (-0.7%), especially that of natural rubber (-10.0%). Conversely, prices of natural textile fibers continued to grow rapidily (+7.0%), including cotton prices (+7.6%).
The prices of raw food materials imported declined
In March, prices of raw food in foreign currencies also retreated (-0.4% after +3.4%). The drop in sugar prices accentuated (-11.4% after -1.0%), and cereals prices fell ( -3.6% after +4.3%), including rice (-5.9%). By contrast, prices for beef meat accelerated (+7.2% after +1.7%).
tableau tabpetrole – Oil and petroleum products
|of last month||over the last month||over the last 3 months||over the last 12 months|
|Brent in $ per barrel||114,5||10,6||24,8||45,3|
|Brent in € per barrel||81,7||7,8||17,7||40,7|
- Prices are in dollars per tonne unless otherwise specified
- Source : INSEE
tableau tabmatprem – Imported raw materials (excluding energy) in domestic currency
|over last month||over the last 3 months||over the last 12 months|
|Oil seeds, vegetable oils||291,8||–2,7||–0,5||28,0|
|Industrial raw materials||279,3||–0,4||6,3||23,5|
|Agricultural raw materials||173,4||–0,7||3,8||15,2|
- Source : INSEE