In November 2012, imported raw materials prices decreased againPrices of oil and raw material imports - November 2012
In November, the price of crude oil in U.S. dollar terms continued to decline ( 2.3% after 1.4% in October). It stood at $109.3 per barrel of Brent. The prices in foreign curren-cies of commodities except energy imported into France went on decreasing too ( 1.3% after 1.2% in October).
In November, the price of crude oil in U.S. dollar terms continued to decline (–2.3% after –1.4% in October). It stood at $109.3 per barrel of Brent. The prices in foreign currencies of commodities except energy imported into France went on decreasing too (–1.3% after –1.2% in October).
Further decrease in crude oil prices
In November, the price of crude oil (North Sea Brent) in U.S. dollars per barrel fell for the second consecutive month (–2.3% after –1.4% in October). In Euro terms, the dip in oil prices was slightly less pronounced (–1.2% after –2.1%), due to the depreciation of the European currency against the U.S. dollar (–1.1%).
The prices of industrial raw materials receded
In November, the prices in foreign currencies of industrial raw materials were down (–0.2% after +0.9% in October). Indeed, the prices of mineral raw materials slipped (–1.5% after +0.4%). The prices of non–ferrous metals continued to fall (–3.1% after –2.1%), especially that of copper (–4.6%), nickel (–5.5%), titanium (–4.0%) and aluminum (–1.6%). The drop in precious metals prices also intensified (–1.6% after –0.4%), due to the decline in platinum (–3.6%) and gold (–1.5%).
The prices of agricultural raw materials, however, went on expanding (+3.5% after +2.1%), mainly because of the sharp increase in sawn softwood prices (+13.3%). The prices of natural rubber on the opposite corrected down markedly (–5.3% after +7.0%) and the prices of natural textile fibers fell again (–0.6%), notably that of cotton (–1.3%).
The prices of raw food materials went on declining
In November, raw food materials prices, in foreign currency terms, registered another drop (–3.1% after –4.3% in October). In particular, oilseeds prices tumbled again (–4.7% after –6.8%). As global supply is expected to run ahead of demand, the prices of soybean meal (–4.7%) and soybeans (–5.9%) went on sinking. Similarly, the prices of palm oil plunged for the fourth straight month (–3.2%), still due to the accumulation of stocks in Southeast Asia.
Tropical foodstuff prices also dropped (–2.0%), mainly that of arabica (–10.4%) and robusta (–6.3%). Finally, sugar prices fell significantly (–5.3%), thanks to abundant supply prospects, especially in Brazil, the world’s largest exporter. Cereals prices stabilized (+0.2% after –1.2%), due to the firming up of rice prices (+1.0%).
tableau tabpetrole_ang – Oil and petroleum products
|over the last month||over the last month||over the last 3 months||over the last 12 months|
|Brent in $ per barrel||109.3||–2.3||–2.8||–1.3|
|Brent in € per barrel||85.1||–1.2||–6.0||4.2|
|Gasoline in $ per liter||0.75||–4.2||–6.1||8.1|
- Prices are in dollars per ton unless otherwise specified
- Source : INSEE
tableau tabmatprem_ang – Imported raw materials (excluding energy) in foreign currencies
|over the last month||over the last 3 months||over the last 12 months|
|Oil seeds, vegetable oils||339.2||–4.7||–12.7||32.7|
|Industrial raw materials||243.2||–0.2||5.1||–4.5|
|Agricultural raw materials||146.1||3.5||3.5||–0.7|
- Source : INSEE