In March 2013, oil prices declinedPrices of oil and raw material imports - March 2013

In March, the crude oil price in euro terms fell (-2.9% after +3.4% in February), reaching € 84.7 per barrel of Brent. In euro terms, the prices of commodities except energy imported into France remained stable (-0.2% after +0.1% in February).

In March, the crude oil price in euro terms fell (-2.9% after +3.4% in February), reaching € 84.7 per barrel of Brent. In euro terms, the prices of commodities except energy imported into France remained stable (-0.2% after +0.1% in February).

Oil prices stopped increasing

In March, the price of crude oil from the North Sea (Brent) in dollars fell sharply (-5.8% after +3.8%). It stood at $109.7 per barrel. In euros, the decline in the price of Brent was less marked (-2.9% after +3.4%), due to a depreciation of the euro against the dollar (-3.0%).

The prices of imported industrial raw material declined

In March, prices of industrial raw materials in euro terms declined (-2.1% after +0.5%). In particular, prices of mineral raw materials decreased clearly (-3.8% after +0.7%). Prices of non-ferrous metals receded (-3.3% after +0.6%) due to persistent concerns regarding the vitality of European and Chinese demands. In particular, prices of copper (-2.1%), aluminum (–4.0%), lead (-5.3%) and zinc (-6.4%) declined. Prices of precious metals also declined, though less sharply than in February (-0.5% after –1.8%). The decrease affected mainly the prices of silver (-3.0%) and platinium (-2.5%), while prices of gold (+0.9%) and palladium (+3.8%) rose. The price of iron ore fell markedly, due to a decline in steel production in China (–6.8% after +2.3%).

On the other hand, prices of agricultural raw materials rebounded (+3.4% after -0.1%). Prices of sawn softwood (+9.1%) and wood pulp (+3.0%) increased significantly. In addition, the prices of natural textile fibers rose again (+7.5% after +3.9%), due to a higher cotton price (+8.5% after +4.5%) supported by an increase in Chinese demand.

The raw food materials prices rebounded

In March, prices of raw food materials in euro terms rose (+3.3% after -0.7%). Tropical foodstuff prices rose (+1.4% after –3.1%), notably those of coffee (+5.9% for the robusta and +1.1% for the arabica), due to a decline in production in Central America, a result of an epidemic affecting crops.

In addition, the prices of cocoa (+0.9%) tended to raise. Sugar prices also rose (+3.6%), due to bad weather conditions that have reduced significantly the production of Brazil, the largest producer and exporter of sugar. Beef prices (+9.7%) also increased sharply. Prices of cereals also rebounded (+3.1% after –0.7%) due to an increase in corn prices (+5.7%) which were driven down by the cold wave that hit part of Europe. Prices of oilseeds continued to rise (+1.5% after +1.6%), notably those of soybean meal (+2.5%) and soybean (+2.1%).

tabpetrole_ang – Oil and petroleum products

in euros
Oil and petroleum products
Prices Change (%)
over the last month over the last 3 months over the last 12 months
Brent in $ per barrel 109.7 –5.8 0.3 –11.9
Brent in € per barrel 84.7 –2.9 1.7 –10.2
Gasoline €/L 0.59 –2.2 7.8 –6.4
Gas Oil 705.4 –5.5 0.0 –9.1
Heavy fuel 479.2 –4.1 4.1 –16.4
Naphtha 701.8 –4.9 –2.2 –13.0
  • Prices are in euros per tonne unless otherwise specified
  • Source : INSEE

tabmatprem_ang – 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 189.7 3.3 0.3 2.2
Tropical foodstuff 145.5 1.4 –5.6 –10.2
Oil seeds. vegetable oils 242.5 1.5 –0.5 14.0
Cereals 216.7 3.1 1.8 4.7
Sugar 158.2 3.6 –3.4 –24.5
Beef meat 125.6 9.7 11.3 3.4
Industrial raw materials 178.8 –2.1 –0.6 –3.7
Agricultural raw materials 114.8 3.4 3.6 6.9
Natural Fibers 138.5 7.5 13.2 –4.1
Natural rubber 307.0 –4.9 –1.6 –23.5
Hides 84.3 –1.8 1.9 16.2
Wood pulp 87.4 3.0 4.5 1.5
Tropical wood 97.0 0.5 –5.4 –5.4
Sawn softwood 112.4 9.1 10.3 46.5
Minerals 213.9 –3.8 –1.8 –6.8
Iron ore 799.4 –6.8 10.0 –1.4
Non-ferrous metals 159.8 –3.3 –4.4 –8.6
Precious metals 292.7 –0.5 –4.1 –4.5
All commodities 175.7 –0.2 –0.3 –1.6
  • 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