14 September 2012
2012- n° 225In August 2012, further strong increase in oil prices Prices of oil and raw material imports - August 2012
In August, the oil price in dollars continued to increase strongly (+9.9% after +6.0% in July). It stood at $112.4 per barrel of Brent. On the contrary, the prices in foreign currencies of commodities except energy imported into France slightly fell (-0.5% after +2.2% in July).
In August, the oil price in dollars continued to increase strongly (+9.9% after +6.0% in July). It stood at $112.4 per barrel of Brent. On the contrary, the prices in foreign currencies of commodities except energy imported into France slightly fell (-0.5% after +2.2% in July).
The oil prices continued to rise
In August, the price in dollar of the barrel of oil from the North Sea (Brent) increased again (+9.9% after +6.0%). In euros, the rise in oil prices was somewhat more subdued (+8.8% after +8.2 %), due to the appreciation of the euro against the dollar (+1.0%).
Industrial raw material prices still decreasing
In August, the prices in foreign currencies of industrial raw materials declined further (-3.5% after -1.0% in July). On then one hand, the prices of mineral raw materials went on falling (-4.1% after -1.1%). In particular, the prices of nonferrous metals dropped (-2.0% after +0.0%), notably those of titanium (-4.6%), nickel (-3.1%), aluminium (-1.9%) and zinc (-1.9%). Conversely, the prices of precious metals rebounded (+2.9% after –1.2%), mainly that of silver (+4.6%), palladium (+4.3%) and gold (+2.0%)
On the other hand, the prices of agricultural raw materials receded more sharply than in July (-1.9% after –0.9%), in particular those of tropical sawn wood (-12.7%), natural rubber (-11.4%), and to a lesser extent of natural fibers (–0.9%), because of the decline of wool prices (-9.2%).
The rise in prices of raw food materials continued
In August, the prices in foreign currencies of raw food materials grew again (+4.3% after +7.7% in July). Indeed, the prices of tropical foodstuff went on rising (+3.0% after +4.9%), due to the increase in the prices of cocoa (+9.0%) and tea (+2.2%). Likewise, the prices of oilseeds remained on a rising trend (+7.3% after +15.8%), in particular those of olive oil (+9.6%) and soybean meal (+9.5%). The prices of cereals slowed down (+1.2% after +5.6%), thanks to a more moderate rise in corn prices (+3.4% after +28.9%) and to the decrease in rice prices (-1.0%). The prices of beef meat rebounded (+3.9%) while those of sugar fell back (-9.8% after +11.3%), due to improved harvest prospects in Brazil and a drop in end-users demand.
tableautabpetrole – 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 | 112,4 | 9,9 | 0,8 | 2,0 |
| Brent in € per barrel | 90,6 | 8,8 | 3,9 | 17,9 |
| Gasoline | 0,8 | 9,8 | 5,4 | 7,3 |
| Gas Oil | 964,8 | 8,4 | 3,3 | 2,7 |
| Heavy fuel | 691,6 | 9,0 | 2,2 | 6,9 |
| Naphtha | 934,2 | 13,3 | 5,9 | –0,8 |
- 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 | 286,5 | 4,3 | 10,3 | 5,7 |
| Tropical foodstuff | 233,9 | 3,0 | 3,6 | –18,6 |
| Oil seeds, vegetable oils | 388,6 | 7,3 | 23,8 | 35,9 |
| Cereals | 318,7 | 1,2 | 5,3 | 5,7 |
| Sugar | 252,0 | –9,8 | 1,4 | –28,9 |
| Beef meat | 164,8 | 3,9 | –3,4 | 1,9 |
| Industrial raw materials | 231,1 | –3,5 | –8,3 | –22,2 |
| Agricultural raw materials | 140,6 | –1,9 | –6,3 | –12,2 |
| Natural Fibers | 174,0 | –0,9 | –5,6 | –27,3 |
| Natural rubber | 328,5 | –11,4 | –22,4 | –40,9 |
| Hides | 108,2 | 2,7 | 1,0 | 1,2 |
| Wood pulp | 120,8 | –2,4 | –3,3 | –17,7 |
| Tropical sawn wood | 123,8 | –12,7 | –16,1 | –22,7 |
| Sawn softwood | 120,5 | 5,4 | 1,5 | 33,9 |
| Minerals | 278,9 | –4,1 | –9,0 | –25,3 |
| Iron ore | 865,9 | –15,7 | –20,9 | –39,3 |
| Non-ferrous metals | 216,4 | –2,0 | –7,1 | –21,8 |
| Precious metals | 404,8 | 2,9 | 1,0 | –18,1 |
| All commodities | 240,9 | –0,5 | –1,5 | –12,8 |
- Source : INSEE
graphiqueG_petrole_ang – Oil
- Source : INSEE
graphiqueG_alim_ang – Food
- 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
