The commodities prices declined in MayPrices of oil and raw material imports - May 2010

In May, the price of oil declined (-10.7% after +7.6% in April) and fixed to $ 75.7. Prices for non-energy commodities imported by France also decreased (-6.3% in foreign currencies, after +3.5% in April).

Informations rapides
No 151
Paru le : 08/06/2010

Warning  : since April 2010, the price of iron ore is determined by supply contracts quarterly. For the second quarter, prices increased by 74.8%. The series and the associated indexes of April have been revised.

In May, the price of oil declined (-10.7% after +7.6% in April) and fixed to $ 75.7.

Prices for non-energy commodities imported by France also decreased (-6.3% in foreign currencies, after +3.5% in April).

Oil price declined

In May, the price of oil from the North Sea (Brent) decreased (-10.7% after +7.6% in April). In euros, the decline was less significant (-4.5 %) due to the sharp depreciation of euro vis-à-vis the dollar (-6.5 %).

Prices of industrial raw materials were also down

In May, prices of industrial raw materials in foreign currencies were down (-8.9%), driven by lower prices of mineral materials (-10.1%). The non-ferrous metal prices fell (-12.2%), including nickel (-15,5%), lead (-16.9%) and zinc (-16.9%). The housing market downturn in China has indeed reduced the demand of construction materials. In contrast, the price of precious metals rose slightly (+0.9%) due to higher gold price (+4.9%); platinum price (-5.3%) and palladium price (-7.5 %) declined sharply.

The prices of agricultural raw materials went into retreat   (-5.6 %). The falling prices of sawn softwood (-11.5%) and natural rubber (-12.2%) were somewhat compensated by higher wood pulp (+3.0%), due to a strong Chinese demand.

Raw food materials prices fell

In May, prices of raw food in foreign currencies were down (-0.8% after +0.3% in April). The prices of tropical beverages fell (-1.6%). Oilseeds and vegetable oils prices have also declined (-0.6%), including those of soyabeans (-2.1%) and olive oil (-4.5%). Similarly, the prices of cereals have declined (-0.5%), including that of rice (-3.1%). Finally, the price of sugar continued to fall (-9.4 % after -16.3 in April) due to the continued growth in supply from Brazil and India.

tabpetrole – Oil and petroleum products

in dollar
Oil and petroleum products
Prices Change (%)
of last month over the last month over the last 3 months over the last 12 months
Brent in $ per barrel 75,7 –10,7 2,9 32,0
Brent in € per barrel 60,4 –4,5 12,2 43,8
Gasoline 722,8 –8,8 5,4 22,5
Gas Oil 653,0 –8,5 6,1 38,3
Heavy fuel 420,0 –5,6 –1,6 33,8
Naphta 682,5 –6,7 0,7 46,6
  • Prices are in dollars per tonne unless otherwise specified
  • Source: INSEE

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

base 100 in 2000
Imported raw materials (excluding energy) in domestic currency
Index Changes (%)
over last month over the last 3 months over the last 12 months
Food total 212,9 –0,8 –1,9 4,6
Tropical beverages 230,4 –0,8 –1,1 16,0
Oil seeds, vegetable oils 221,6 –0,6 –1,3 –3,3
Cereals 203,7 –0,5 –10,5 –11,3
Sugar 179,3 –9,4 –45,1 –5,6
Beef meat 150,9 0,2 16,4 15,6
Industrial raw materials 229,9 –8,9 5,8 52,8
Agricultural raw materials 151,9 –5,6 1,3 58,9
Natural Fibers 177,2 0,4 8,7 40,9
Natural rubber 378,0 –12,0 –9,0 63,5
Hides 115,2 0,1 18,1 142,4
Wood pulp 139,3 3,0 12,9 60,6
Tropical wood 138,8 1,8 6,8 –3,4
Sawn softwood 105,9 –11,5 –5,1 68,4
Minerals 270,0 –10,1 7,6 50,6
Iron ore 612,7 0,0 74,7 74,7
Non-ferrous metals 235,2 –12,2 0,6 48,6
Precious metals 310,9 0,9 10,6 36,9
All commodities 218,2 –6,3 3,1 32,4
  • Source: INSEE

G_petrole_ang – Oil

  • Source: INSEE

G_alim_ang – Food

  • Source: INSEE

G_ensemble_ang – All commodities

  • Source: INSEE

G_indus_ang – Industrial raw materials

  • Source: INSEE