In May 2016, oil prices acceleratedPrices of oil and raw material imports - May 2016

In May 2016, the crude oil price in euros kept recovering (+11.9% after +6.1%). At €42.1 on average per barrel, the Brent price remained howeversignificantly lower than one year ago (-27.9%).

Informations rapides
No 151
Paru le : 14/06/2016
Prochaine parution le : 20/09/2017 at 12:00 - August 2017

In May 2016, the crude oil price in euros kept recovering (+11.9% after +6.1%). At €42.1 on average per barrel, the Brent price remained howeversignificantly lower than one year ago (−27.9%).

Prices in euros of the other imported commodities accelerated modestly (+1.3% after +0.8%). In effect, raw food materials prices picked up markedly (+6.7% after −0.5%). On the other hand, industrial raw materials prices weakened (−2.1% after +1.7%).

Oil prices increased more than in April

In May, the price of crude oil from the North Sea (Brent) in euros gathered pace (+11.9% after +6.1%). In dollars, the price rise was a little less marked (+11.6% after +8.1%) since the euro depreciated slightly during the month.

tabpetrole – Oil and petroleum products

in euros
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 47.1 11.6 42.0 –27.0
Brent in € per barrel 41.7 11.9 39.3 –27.9
Gasoline €/L 0.37 9.4 62.2 –19.9
Gas Oil 375.3 15.0 36.3 –30.2
Heavy fuel 215.0 12.3 39.4 –34.9
Naphtha 349.8 7.0 33.5 –29.7
  • Prices are in euros per tonne unless otherwise specified
  • Source: INSEE

G_petrole_ang – Oil (Brent)

  • Source: INSEE

Prices of raw food materials recovered

Prices of raw food materials in euros picked up sharply in May (+6.7% after −0.5%). Sugar prices rallied strongly (+11.6% after −4.6%), driven up by lower outputs in India and in China. The price of soybean meals sped up strongly (+24.3% after +8.0%) and propped up prices of oil seeds and vegetable oils that accelerated (+12.5% after +4.9%), even though the price of palm oil slipped (−5.1% after +5.6%). Prices of cereals increased as well (+7.2% after +0.1%), in particular those of corn (+4.8% after +0.6%) and rice (+9.1% after −0.4%), as a result of greater worldwide demand. Prices of tropical foodstuffs edged up (+1.4% after −2.1%), due in particular to the acceleration in robusta prices (+4.2% after +3.4%).

G_alim_ang – Food

  • Source: INSEE

Prices of industrial raw materials slipped back

Prices of industrial raw materials in euros shrank (−2.1% after +1.7%), due to a downturn in minerals prices (−3.0% after +1.8%). Prices of iron ore fell back (−7.6% after +5.3%), on account of high stock levels in China. Prices of non-ferrous metals declined too (−2.1% after +0.9%) because of a drop in copper prices (−6.6% after +2.0%), due to lower demand in China, and a sharp backlash in lead prices (−5.5% after +3.4%). Prices of precious metals decreased as well (−0.7% after +2.2%), mainly those of platinum (−8.7% after +8.3%) and palladium (−11.9% after +8.5%). However, prices of agricultural raw materials rose as much as in April (+1.2%), in spite of the substantial decline in natural rubber prices (−10.9% after +17.2%; −21.2% over one year).

G_indus_ang – Industrial raw materials

  • Source: INSEE

G_ensemble_ang – Imported raw materials (excluding energy)

  • Source: INSEE

tabmatprem – Imported raw materials (excluding energy) in euros

in euros
Imported raw materials (excluding energy) in euros
Index Changes (%)
of last month over the last month over the last 3 months over the last 12 months
Food total 215.3 6.7 8.1 –0.8
Tropical foodstuffs 201.6 1.4 3.3 –4.2
Oil seeds, vegetable oils 248.3 12.5 18.4 6.8
Cereals 159.0 7.2 6.6 6.0
Sugar 165.3 11.6 22.9 29.6
Beef meat 150.7 –0.1 –7.2 –18.5
Industrial raw materials 149.6 –2.1 5.6 –10.5
Agricultural raw materials 112.8 1.2 8.6 0.7
Natural Fibres 119.8 1.4 3.3 –3.9
Natural rubber 140.6 –10.9 25.2 –21.2
Hides 72.9 –1.2 –0.5 –26.0
Wood pulp 95.3 1.0 –1.6 –8.1
Tropical wood 107.2 1.9 –0.4 –7.2
Sawn softwood 101.3 6.7 23.9 22.2
Minerals 169.9 –3.0 5.2 –13.9
Iron ore 359.3 –7.6 16.5 –10.1
Non-ferrous metals 140.6 –2.1 3.4 –15.9
Precious metals 233.5 –0.7 4.9 –5.5
All commodities 167.1 1.3 6.4 –6.3
  • Source: INSEE