In May 2012, the prices of oil fellPrices of oil and raw material imports - May 2012

In May, the price of oil in dollars fell significantly (–7.6% after –3.1%) in April). It stood at $111.5 per barrel Brent. The foreign currency prices for non-energy commodities imported into France also recorded a further decline (-1.4% as in April).

In May, the price of oil in dollars fell significantly (–7.6% after –3.1%) in April). It stood at $111.5 per barrel Brent. The foreign currency prices for non-energy commodities imported into France also recorded a further decline (-1.4% as in April).

The drop in the oil prices increased

In Jmay, the dollar price of oil from the North Sea (Brent) continued to fall (-7.6% after -3.1%). In euros, the decline in oil prices was slightly less sensitive (-4.9 % after –2.7 %), because the depreciation of the euro against the dollar continued (-2.9%). The price per barrel dollar found again its level in January 2012.

The prices of industrial raw material continued to decline

In May, the prices of industrial raw materials in foreign currencies continued to fall (-2.6% after -2.1% in April). Lower prices of mineral raw materials increased (-4.4% after -2.8%). The prices of nonferrous metals declined again (-3.3% after –4.0%), including those of copper (-4.1%), nickel (-4.9%), zinc (-3.8%) and a lesser extent to aluminium (-2.2%). Meanwhile, the prices of precious metals fell sharply (-6.3% after –2.9%), mainly those of silver (-9.1%) and gold (–3.9%).

The prices of agro-industrial raw materials however rebounded (+2.8% after –0.2%) The price of sawn softwood of conifers accelerated (+8.9%) and those of of wood pulp have continued to rise (+0.8%). Prices of natural textile fibers however folded (-10.6%), due to the significant decline in cotton prices (-11.3%). They suffered from the slowdown of activity in China which is about 40% of global consumption of cotton.

The prices of raw food materials became stronger

In May, the prices of raw food materials in foreign currencies increased (+0.8% after +0.0% in April). The tropical

foodstuffs prices recovered (+0.9% after –3.5%), including cocoa (+1.5%) and robusta (+3.8%). The cereals prices accelerated (+2.0% after +0.2%), with the rising prices of rice (+4.3%), supported by high purchase before Ramadan. But, corn prices continued to decline (-2.7%). The prices of oilseeds also grew but at slower pace than in April (+1.3% after +5.8%). In contrast, sugar prices fell again sharply (-11.9% after –7.1%) due to improved supply.

tabpetrole – Oil and petroleum products

in dollar
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 111,5 –7,6 –5,7 –3,1
Brent in € per barrel 87,1 –4,9 –2,5 8,6
Gasoline 1021,5 –12,3 –2,6 –4,7
Gas Oil 933,8 –7,1 –7,1 –0,4
Heavy fuel 626,7 –7,7 –7,9 3,8
Naphtha 882,2 –14,8 –14,1 –10,8
  • Prices are in dollars per tonne unless otherwise specified
  • Source : INSEE

tabmatprem – Imported raw materials (excluding energy) in domestic currency

base 100 in 2000
Imported raw materials (excluding energy) in domestic currency
Index Changes (%)
over the last month over the last 3 months over the last 12 months
Food total 259,7 0,9 3,3 –3,6
Tropical foodstuff 225,7 0,9 –4,7 –24,4
Oil seeds, vegetable oils 313,9 1,3 15,2 8,4
Cereals 302,1 2,0 1,5 6,2
Sugar 248,6 –11,9 –18,6 –7,3
Beef meat 170,7 2,4 0,1 7,8
Industrial raw materials 253,0 –2,6 –5,0 –15,7
Agricultural raw materials 152,3 2,8 4,6 –5,2
Natural Fibers 185,0 –10,6 –12,1 –43,7
Natural rubber 454,0 0,4 –0,4 –17,2
Hides 107,1 1,7 8,4 2,0
Wood pulp 125,0 0,8 1,1 –15,1
Tropical wood 147,5 –0,5 0,8 –7,0
Sawn softwood 118,7 8,9 15,8 34,4
Minerals 306,5 –4,4 –8,0 –19,0
Iron ore 1094,5 –7,7 –2,9 –23,1
Non-ferrous metals 233,0 –3,3 –8,8 –19,0
Precious metals 400,6 –6,3 –12,0 –10,2
All commodities 245,2 –1,4 –2,1 –11,7
  • 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 : INSEE