In June 2013, further decline in prices of imported raw materialsPrices of oil and raw material imports - June 2013

In June, the crude oil price in euro terms fell again (-1.8%), reaching € 77.9 per barrel of Brent. Prices in euros terms of commodities except energy imported into France also decreased significantly (-3.7%), essentially due to the decline of the prices of industrial raw materials (-4.9%), while prices of raw food materials were slightly down (-1.9%).

In June, the crude oil price in euro terms fell again (-1.8%), reaching € 77.9 per barrel of Brent. Prices in euros terms of commodities except energy imported into France also decreased significantly (-3.7%), essentially due to the decline of the prices of industrial raw materials (-4.9%), while prices of raw food materials were slightly down (-1.9%).

Decline in oil prices in euros terms

In June, the price of crude oil from the North Sea (Brent) in dollars terms remained stable (-0.2% after –0.4% in May), in a context of weaker demand of oil. It stood at $102.8 per barrel. However, in euros terms, the decrease is a bit more pronounced (-1.8% after –0.4% in May), due to an appreciation of the euro (+1.6% against the dollar).

Further decline in prices of imported industrial raw material

In June, prices of industrial raw materials in euros terms declined again (-4.9% after -3.2% in May). Prices of mineral raw materials decreased sharply again (-4.8% after –3.1%). In particular, prices of non-ferrous metals and iron ores fellagain respectively (-3.5% after –1.0%) and (-8.9% after 9.4%), due to a low demand from China (world’s largest consumer of metals). This is particularly the case of the prices of aluminum (–2.4%), copper (–4.7%) and nickel (–6.1%). Prices of precious metals further declined significantly again (–6.9% after –4.4%), especially those of silver (–9.7%) and gold (-6.5%).

Moreover, prices of agro-industrial raw materials continued to drop sharply in June (-5.1% after –3.8% in May). In particular, prices of sawn softwood (-10.4%) dropped, as well as natural rubber (-9.3%). Prices of natural textile fibers fell (-1.3%) after a slight rise in May (+0.2%), mainly due to a decline in cotton prices (-1.2%).

Lower prices of raw food materials

In June, prices of raw food materials in euros terms retreated (-1.9%) after a sharp increase in May (+3.4%). Prices of tropical foodstuff (-6.5% after +1.2%) dropped, due to the high declines in the prices of arabica (-10.3%) and robusta (-9.7%), because of improved production prospects in Brazil and Vietnam.

Prices of cocoa (-3.8%) also declined. In addition, prices of cereals (-2.8%), also dropped, driven down by the fall in corn prices (-3.0%) due to improved prospects of harvest in the United States and South America. Prices of beef meat, as well as sugar (-4.4%) also bended. In contrast, prices of oilseeds (+2.6% after +5.8%) continued to rise, largely due to higher prices of soybean meal (+5.0%) and soybean (+1.4%). Indeed, fears are appeared on the quality of the crop in the United States.

tabpetrole – Oil and petroleum products

in euros
Oil and petroleum products
Prices Change (%)
over the last month over the last month over the last 3 months over the last 12 months
Brent in $ per barrel 102.8 –0.2 –6.2 6.6
Brent in € per barrel 77.9 –1.8 –7.9 1.4
Gasoline €/L 0.55 –1.6 –7.1 –0.5
Gas Oil 661.9 –0.1 –6.2 –1.6
Heavy fuel 460.1 –0.6 –4.0 –3.3
Naphtha 640.4 0.2 –8.7 9.7
  • 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 187.4 –1.9 –1.2 –3.4
Tropical foodstuff 139.0 –6.5 –4.4 –12.8
Oil seeds. vegetable oils 254.6 2.6 5.0 6.4
Cereals 201.2 –2.8 –7.0 –8.6
Sugar 140.8 –4.4 –11.0 –22.9
Beef meat 118.7 –4.7 –5.5 –3.3
Industrial raw materials 156.8 –4.9 –12.3 –11.9
Agricultural raw materials 100.9 –5.1 –12.2 –7.7
Natural Fibers 132.5 –1.3 –4.3 5.0
Natural rubber 248.7 –9.3 –19.0 –23.5
Hides 86.1 –2.3 2.2 11.5
Wood pulp 88.3 –0.9 1.1 –3.6
Tropical wood 97.9 –0.3 0.9 –7.0
Sawn softwood 81.4 –10.4 –27.5 –5.8
Minerals 187.4 –4.8 –12.4 –13.1
Iron ore 644.4 –8.9 –19.4 –18.9
Non-ferrous metals 144.5 –3.5 –9.6 –10.8
Precious metals 237.3 –6.9 –18.9 –18.8
All commodities 161.3 –3.7 –8.2 –8.7
  • 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 : NSEE