In October 2012, dip in imported raw materials pricesPrices of oil and raw material imports - October 2012

In October, the price of crude oil, in U.S. dollar terms, declined (–1.4% after +0.9% in September). It stood at $111.8 per barrel of Brent. The prices in foreign currencies of commodities except energy imported into France decreased too (–1.2% after +2.6 in September).

In October, the price of crude oil, in U.S. dollar terms, declined (–1.4% after +0.9% in September). It stood at $111.8 per barrel of Brent. The prices in foreign currencies of commodities except energy imported into France decreased too (–1.2% after +2.6 in September).

Crude oil prices setback

In October, the price of crude oil (North Sea Brent) in U.S. dollar terms per barrel fell for the first time in three months (-1.4%). It is however still more than 15$ higher than the low reached in June. In Euro terms, the decline in oil prices was slightly more marked (-2.1% after +2.8 %), due to the appreciation of the European currency against the U.S. dollar (+0.8%).

The prices of industrial raw material stabilized

In October, the prices in foreign currencies of industrial raw materials rose significantly less sharply than in September (+0.9% after +4.5%). Indeed, the prices of mineral raw materials leveled off (+0.4% after +6.9%). The prices of non–ferrous metals generally dropped (-2.1%), especially that of aluminum (-3.8%), zinc (-5.1%) and titanium (-3.4%). Copper prices (+0.0% after +7.7%) and nickel prices (+0.2% after +10.0%) stagnated. Likewise, the prices of precious metals receded (-0.4% after +11.3%), notably that of silver (-1.3%) and palladium (–3.9%).

The prices of agricultural raw materials on the opposite recovered (+2.1% after –2.1%), including that of wood pulp (+1.6 after –3.1). Natural rubber prices accelerated (+7.0% after +3.7), still sustained by export restrictions from the main South East Asian producing countries. Natural textile fibers prices deteriorated further (-1.6%), e.g. cotton prices (-2.6%).

Raw food materials prices went on declining

In October, the fall of raw food materials prices, in foreign currency terms, intensified (–4.3% after –0.1% in September). In particular, oilseeds prices tumbled (-6.8%). Due to good crop prospects in South America, the prices of soybean meal (-7.8%) and soybeans (-8.1%) slumped further. In addition, the prices of palm oil registered another strong plunge (-12.7% after -5.4%), due to the accumulation of stocks in Malaysia. The world’s second largest palm oil producer also reduced tax to boost exports. Tropical foodstuff prices slipped too (-4.6%), especially cocoa prices (-7.0%), as fears about Ivory Coast production wore off, and arabica prices (-4.1%), due to abundant harvest prospects in Brazil and Colombia. Finally, cereals prices continued to head lower (-1.2% after –1.1%), that of corn in particular (-1.7%). Only sugar prices picked up (+4.7%).

tabpetrole_ang – Oil and petroleum products

in dollar
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 111.8 –1.4 9.3 3.0
Brent in € per barrel 86.2 –2.1 3.5 9.0
Supercarburant $/litre 0.78 –9.1 7.7 7.4
Gas Oil 984.1 –0.2 10.6 5.8
Heavy fuel 647.4 -7.6 2.1 0.7
Naphtha 954.9 –1.3 15.8 8.4
  • Prices are in dollars per tonne unless otherwise specified
  • Source : INSEE

tabmatprem_ang – Imported raw materials (excluding energy) in foreign currencies

indices, 2000=100
Imported raw materials (excluding energy) in foreign currencies
Index Changes (%)
over the last month over the last 3 months over the last 12 months
Food total 273.9 –4.3 –0.3 9.6
Tropical foodstuff 230.0 –4.6 1.3 –10.5
Oil seeds. vegetable oils 355.8 –6.8 –1.7 38.0
Cereals 313.2 –1.2 –0.6 4.0
Sugar 250.3 4.7 –10.4 –22.5
Beef meat 164.3 –1.4 3.5 6.2
Industrial raw materials 243.8 0.9 1.8 –7.3
Agricultural raw materials 141.1 2.1 –1.5 –8.4
Natural Fibers 170.3 –1.6 –3.0 –25.4
Natural rubber 364.7 7.0 –1.6 –29.7
Hides 109.0 1.2 3.4 9.7
Wood pulp 118.7 1.6 –4.1 –14.3
Tropical wood 144.4 –0.6 1.8 –8.0
Sawn softwood 115.8 0.6 1.3 26.1
Minerals 299.5 0.4 3.0 –6.8
Iron ore 915.3 14.6 –10.9 –24.3
Non-ferrous metals 232.3 –2.1 5.2 –2.9
Precious metals 448.4 –0.4 14.0 5.3
All commodities 244.5 –1.2 1.0 –1.5
  • 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