In August 2013, downturn in raw food material pricesPrices of oil and raw material imports - August 2013

In August, the crude oil price in euro terms slightly increased (+0.5%), reaching € 82.7 per barrel of Brent. On the other hand, prices in euros terms of commodities except energy imported into France decreased (-1.5%) under the influence of an outstanding decrease in raw food materials (–6.8%) whereas prices of industrial raw materials rose again (+2,1% ).

In August, the crude oil price in euro terms slightly increased (+0.5%), reaching € 82.7 per barrel of Brent. On the other hand, prices in euros terms of commodities except energy imported into France decreased (-1.5%) under the influence of an outstanding decrease in raw food materials (–6.8%) whereas prices of industrial raw materials rose again (+2,1% ).

Slight increase in oil prices

In dollars terms, the price of crude oil from the North Sea (Brent) ramped up (+2.3% after +4.7% in July) and stood at $110.1 per barrel. In euros terms, the increase was less marked (+0.5% after +5.6%), due to an appreciation of the euro against the dollar (+1.8%).

Increase in prices of imported industrial raw materials

In euros terms, prices of industrial raw materials increase (+2.1% after +0.9% in July). Prices of mineral raw materials rose again (+2.7% after +0.7% in July), especially because of a rise of the prices of iron ores (+5.9%) related to a strengthening of the Chinese demand. The prices of non-ferrous metals rose as well in August (+1.6% after -1.7%), particularly due to a rise in lead prices (+6.1%), copper and nickel (+4.2% both). Prices of precious metals notably rebounded (+4.7% after –3.3%), due to the unpredictable geopolitical situation in the Middle East. In particular, the price of silver, still viewed as a safe value, rose sharply (+8.9%) .The prices of platinum also increased (+4.7%) due to concerns regarding possible closing of South-African mines and a dynamic Chinese demand.

Prices of agro-industrial raw materials faintly increased (+0.4% after +1.6% in July). The relatively important increases in sawn softwood prices (+2.6%) and rubber (+4.7%) were compensated with the decreases in paper pulp (-1.9%) and natural textile fibres (-1.8% after -0.4%) prices.

Prices of raw food materials went down sharply

Prices of raw food materials in euros terms significantly decreased (-6.8% after +2.0% in July). In particular, prices of oilseeds dropped (-12.5% after -4.1%), due to a good sunflower crop. Prices of cereals also decreased sharply (-12.1% after -4.3%). This decrease owed it to the prices of maize (-19,4%) due to abundant crops in the main producing countries (Argentina, Brazil, Europe, the U.S.). Prices of tropical foodstuff slowly rose (+0.8% after +2.1%). Prices of cocoa (+4.8%), sustained by a strong worldwide demand and adverse weather conditions threatening crops in Western Africa, rose. On the other hand, prices of Arabica (-5.9%) and Robusta (-2.6%) decreased. Brazil, the first Arabica-producing country, indeed had a particularly fruitful crop. The price of beef meat also declined (-2.1% after +0.3%).

tabpetrole – Oil and petroleum products

in euros
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 110,1 2,3 6,9 –2,0
Brent in € per barrel 82,7 0,5 4,2 –8,7
Gasoline €/L 0,58 –1,4 3,8 –10,1
Gas Oil 701,1 0,6 5,8 –9,8
Heavy fuel 458,3 –0,9 –0,9 –17,8
Naphtha 682,0 1,7 6,7 –9,4
  • Prices are in euros per tonne unless otherwise specified
  • Source : INSEE

tabmatprem – Imported raw materials (excluding energy) in euros

base 100 in 2000
Imported raw materials (excluding energy) in euros
Index Changes (%)
over the last month over the last 3 months over the last 12 months
Food total 178,0 –6,8 –6,8 –19,3
Tropical foodstuff 143,0 0,8 –3,8 –17,9
Oil seeds, vegetable oils 232,0 –12,5 –6,5 –23,0
Cereals 169,4 –12,1 –18,2 –29,2
Sugar 140,4 0,2 –4,6 –24,2
Beef meat 116,6 –2,1 –6,3 –4,8
Industrial raw materials 161,6 2,1 –2,0 –6,1
Agricultural raw materials 102,8 0,4 –3,3 –5,0
Natural fibres 129,7 –1,8 –3,4 0,7
Natural rubber 252,1 4,7 –8,0 –15,4
Hides 82,3 –5,6 –6,7 2,6
Wood pulp 87,4 –1,9 –2,0 –2,2
Tropical wood 97,0 0,3 –1,1 –8,1
Sawn softwood 88,5 2,6 –2,7 –2,1
Minerals 193,8 2,7 –1,6 –6,2
Iron ore 762,0 5,9 7,7 18,5
Non-ferrous metals 144,3 1,6 –3,6 –10,1
Precious metals 240,4 4,7 –5,6 –19,9
All commodities 161,0 –1,5 –3,9 –11,5
  • 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