8 December 2011
2011- n° 300In November 2011, the decline in prices of the imported commodities reduced Prices of oil and raw material imports - December 2011
In November, the price of oil in dollars rebounded (+2.1%) after declining in October (-2,0%). It stood at $110.8 per barrel Brent. For their part, the foreign currency prices for non-energy commodities imported into France continued to decline for the fourth consecutive months, but less pronounced (-2.2% after -7.4% in October).
In November, the price of oil in dollars rebounded (+2.1%) after declining in October (-2,0%). It stood at $110.8 per barrel Brent. For their part, the foreign currency prices for non-energy commodities imported into France continued to decline for the fourth consecutive months, but less pronounced (-2.2% after -7.4% in October).
The price of oil rebounded
In November, the dollar price of oil from the North Sea (Brent) rebounded (+2.1% after -2.0%). In euros, the rise in oil price was higher (+3.3% after -1.7% in October), due to the depreciation of European currency against the dollar (-1.2%).
Lower prices of industrial raw material reduced
In November, the prices of industrial raw materials in foreign currencies continued to decline, but less strongly than in October (-2.8% after -8.5%). The prices of mineral raw materials have stabilized (-0.6% after -10.1% in October). Among the nonferrous metals (-1.6% after -8.4%), the prices of nickel (-5.3%) and aluminium (-4.5%) recorded a further decline, but those of copper (+2.8%) and zinc (+3.5%) increased again. The prices of precious metals have also recovered (-3.9% after -11.4%), mainly those of gold (+4.4%) and silver (+3.5%).
In the other hand, the decline in the prices of agro-industrial raw materials increased (-8.5% after -4.0% in October), mainly due to the sharp drop in prices of natural rubber (-17.0%), pulp and paper (-8,9%) and tropical sawn wood (-5.5%).
The prices of raw food materialsweakened less strongly
In November, the pace of decline in prices of raw food materials in foreign currencies has significantly reduced (-1.1% after -5.3%). The prices of tropical foodstuff recorded a further decline (-4.3%), notably cocoa (-8.1%) due to the prospect of an abundant harvest in Ivory Coast. Similarly, sugar prices continued to decline (-6.8% after –5.1%) : the decision of India (second largest producer), to authorize the
export of one million tons od sugar in 2011-2012, weighed on prices. However,prices of cereals (+0.5% after –2.8%) and beef meal (+3.4% after -1.7%) recovered.
tableautabpetrole – Oil and petroleum products
| Prices | Change (%) | |||
|---|---|---|---|---|
| over the last month | over the last 3 months | over the last 12 months | ||
| Brent in $ per barrel | 110,8 | 2,1 | 0,6 | 29,9 |
| Brent in € per barrel | 81,7 | 3,3 | 6,3 | 30,7 |
| Gasoline | 923,5 | –4,9 | –8,7 | 20,1 |
| Gas Oil | 973,9 | 4,7 | 3,7 | 34,1 |
| Heavy fuel | 628,5 | 1,9 | 0,9 | 39,7 |
| Naphtha | 861,3 | –10,5 | –17,1 | 10,4 |
- Prices are in dollars per tonne unless otherwise specified
- Source : INSEE
tableautabmatprem – 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 | 246,3 | –1,1 | –8,9 | 0,1 |
| Tropical beverages | 245,8 | –4,3 | –14,4 | –2,4 |
| Oil seeds, vegetable oils* | 256,6 | –0,9 | –10,7 | –7,2 |
| Cereals | 302,7 | 0,5 | 0,4 | 16,0 |
| Sugar | 301,0 | –6,8 | –15,1 | –15,2 |
| Beef meat | 159,9 | 3,4 | –1,2 | 15,8 |
| Industrial raw materials | 228,9 | –2,8 | –13,8 | –10,4 |
| Agricultural raw materials | 141,0 | –8,5 | –12,0 | –13,4 |
| Natural Fibers | 219,2 | –4,0 | –8,4 | –26,0 |
| Natural rubber | 430,4 | –17,0 | –22,6 | –18,4 |
| Hides | 95,9 | –3,5 | –10,4 | –15,9 |
| Wood pulp | 126,2 | –8,9 | –14,0 | –9,6 |
| Tropical wood | 148,3 | –5,5 | –7,4 | 0,7 |
| Sawn softwood | 89,5 | –2,5 | –0,6 | –16,2 |
| Minerals | 275,9 | –0,6 | –14,4 | –9,4 |
| Iron ore ** | 522,5 | 0,0 | –15,1 | –17,3 |
| Non-ferrous metals | 235,5 | –1,6 | –14,9 | –11,7 |
| Precious metals | 442,3 | 3,9 | –10,5 | 22,9 |
| All commodities | 226,1 | –2,2 | –12,0 | –6,8 |
- *The price of soybean meal has been revised in the past
- **The price of iron ore was revised in October
- Source : INSEE
graphiqueG_alim_ang – OilFood
- Source : INSEE
- Source : INSEE
graphiqueG_ensemble_ang – All commodities
- Source : INSEE
graphiqueG_indus_ang – Industrial raw materials
- Source : INSEE
Pour en savoir plus
Time series : Raw materials prices
