In August 2011, prices of the imported commodities foldedPrices of oil and raw material imports - August 2011
In August, the price of oil in dollars has folded sharply(-5.5%) after increasing in July (+2,3%). It stood at $110.1 per barrel Brent. The foreign currency prices for non-energy commodities imported into France have also declined(-1.8% after +1.6% in July).
In August, the price of oil in dollars has folded sharply (-5.5%) after increasing in July (+2,3%). It stood at $110.1 per barrel Brent. The foreign currency prices for non-energy commodities imported into France have also declined (-1.8% after +1.6% in July).
The price of oil fell off again
In August, the dollar price of oil from the North Sea (Brent) has declined (-5.5% after +2.3%). In euros, the decline in oil price was slightly higher (-5.8% after +3.1% in July), due to the appreciation of European currency against the dollar (+0.3%). Since summer 2010, the rise in oil prices was nevertheless very strong (+43.0% in dollars and +28.7% in euros).
The prices of industrial raw materials declined
In August, the prices of industrial raw materials in foreign currencies fell (-3.0% after +1.9%). The prices of mineral raw materials have registered a strong decline (-3.1% after +2.0%). Indeed, the prices of nonferrous metals (-5.6%) decreased, especially those of lead (-10.4%), zinc (-8,1%) and copper (-6.0%). Conversely, the prices of precious metals have accelerated (+7.4% after +3.8%), mainly those of gold (+11.6%) and silver (+6.3%), confirming their status as a safe haven.
The prices of agro-industrial raw materials were down (-2.5% after +1.4% in July), including those of sawn timber of conifers (-8.4% after +8.9%). Meanwhile, the prices of natural textiles fibers continued to fall, but less strongly than in July (-7,3% after -15,4%), diminishing the decline of cotton prices (-6.7% after -18.6%).
The rise in the prices of raw food materials decreased
In August, the prices of raw food in foreign currencies have increased weakly (+0.3% after +1.0%). The prices of imported cereals rebounded (+6.8% after -2.4%), as a result of sharp increases in prices of rice (+9.1%) and corn (+4.3%). For the corn, the drought in the producing regions in Europe and U.S. darkened in effect the prospects of harvest. For the rice, the announcement by the newly elected government in
Thailand (world’s largest exporter) of measures to support prices paid to domestic producers, encouraged the purchase preventive and sustained the demand. By contrast, the prices of sugar were down (-2.0% after +13.1%) as well as those of tropical produces (-1.9% after +1.9%), including the prices of cocoa (-4.3%).
tableau tabpetrole – Oil and petroleum products
|Over last month||over the last month||over the last 3 months||over the last 12 months|
|Brent in $ per barrel||110,1||–5,5||–4,3||43,0|
|Brent in € per barrel||76,8||–5,8||–4,3||28,7|
- Prices are in dollars per ton unless otherwise specified
- Source: INSEE
tableau tabmatprem – Imported raw materials (excluding energy) in domestic currency
|over last month||over last month||over the last 3 months||over the last 12 months|
|Oil seeds, vegetable oils||287,2||–0,5||–1,2||18,6|
|Industrial raw materials||265,5||–3,0||–1,3||13,3|
|Agricultural raw materials||160,2||–2,5||–0,3||12,1|
- Source: INSEE