In July 2012, the prices of imported raw materials reboundedPrices of oil and raw material imports - July 2012
In July, the price of oil in dollars rebounded sharply(+6.0% after –13.5% in June). It stood at $102.3 per barrel of Brent. Meanwhile, the foreign currency prices for non-energy commodities imported into France have significantly rebounded (+2.2% after –3.2% in June).
In July, the price of oil in dollars rebounded sharply (+6.0% after –13.5% in June). It stood at $102.3 per barrel of Brent. Meanwhile, the foreign currency prices for non-energy commodities imported into France have significantly rebounded (+2.2% after –3.2% in June).
The oil prices rose sharply
In July, the dollar price of oil from the North Sea (Brent) has increased strongly (+6.0% after -13.5%). In euros, the rise in oil prices was more pronounced (+8.2% after –11.8 %), due to the depreciation of the euro against the dollar (-2.0%).
The prices of industrial raw material continued to fall
In July, the prices of industrial raw materials in foreign currencies continued to fall (-1.0% after -4.0% in June). The prices of mineral raw materials has recorded a smaller drop than in June (-1.1% after -4.1%). The prices of nonferrous metals were flat (+0.0% after –5.3%), despite the rise in copper prices (+2.3%). However, the decline in the prices of precious metals was higher than in June (-1.2% after –0.6%), including those of silver (-2.2%) and palladium (-5.4), whose decline in prices was strongly linked to the deteriorating outlook of the global automotive industry.
On the other hand, the prices of agro-industrial raw materials have continued to decline (-0.9% after –3.6%) with a further decline in the prices of sawn softwood of conifers (-1.9% after –1.8%).
The prices of raw food materials rebounded sharply
In July, the prices of raw food materials in foreign currencies were significantly higher (+7.7% after -1.8%). Indeed, higher prices of oilseeds (+15.8% after -0.4% ; particular, the soybean : +17.2% and soybean meal : +22.0%), and cereals (+5.6% after –1.4%, mainly corn : +28.9%), were supported by the drought that reduced harvests in the United States. Similarly, the prices of tropical foodstuffs have rebounded sharply (+4.9% after –4.1%), due to higher prices of cocoa (+3.7%) and especially of arabica (+14.8%). The prices of sugar have significantly accelerated (+11.3% after +1.0%). Indeed, untimely rains in Brazil, world’s largest exporter of sugar, hampered the harvest.
tableau tabpetrole – Oil and petroleum products
|Over the last month||over the last month||over the last 3 months||over the last 12 months|
|Brent in $ per barrel||102,3||6,0||–15,3||–12,3|
|Brent in € per barrel||83,2||8,2||–9,2||2,0|
- Prices are in dollars per tonne unless otherwise specified
- Source : INSEE
tableau tabmatprem – Imported raw materials (excluding energy) in domestic currency
|over the last month||over the last 3 months||over the last 12 months|
|Oil seeds, vegetable oils||362,1||15,8||16,9||26,2|
|Industrial raw materials||239,5||–1,0||–7,8||–21,4|
|Agricultural raw materials||143,3||–0,9||–3,3||–12,7|
- Source : INSEE