In August 2016, slight rebound in oil prices and sharp decline in raw food commodity pricesPrices of oil and raw material imports - August 2016

In August 2016, the crude oil price in euros recovered slightly (+1.0 % after –5.6 %). At €41.2 on average per barrel, the Brent price approached its level of a year earlier (42.2€). Prices in euros of the other imported commodities fell back (–2,0 % after +0.8 %): the prices of raw food materials decreased more than in July (–3.7 % after -2.1 %) and the prices of industrial raw materials slipped back again (-0.9 % after +2.9 %).

In August 2016, the crude oil price in euros recovered slightly (+1.0 % after –5.6 %). At €41.2 on average per barrel, the Brent price approached its level of a year earlier (42.2€). Prices in euros of the other imported commodities fell back (–2,0 % after +0.8 %): the prices of raw food materials decreased more than in July (–3.7 % after −2.1 %) and the prices of industrial raw materials slipped back again (−0.9 % after +2.9 %).

Oil prices recovered slightly

In August, the price in euros of crude oil from the North Sea (Brent) recovered moderatly (+1.0 % after –5.6 %), ressuming the upward trend followed from February to June. This reboud was more marked in dollars (+2.4 % after −7.0 %) since the euro apreciated slightly during the month.

G_petrole_ang – Oil (Brent)

  • Source : INSEE

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 46,1 2,4 –2,1 –1,8
Brent in € per barrel 41,2 1,0 –1,3 –2,5
Gasoline €/L 0,326 0,0 –11,2 –18,7
Gas Oil 363,9 –0,6 –3,0 –12,6
Heavy fuel 245,8 13,0 14,4 8,8
Naphtha 322,4 –7,3 –7,8 –13,5
  • Prices are in euros per tonne unless otherwise specified
  • Source : INSEE

Prices of raw food materials kept dropping markedly

Expressed in euros, the prices of raw food materials fell sharply for the second month in a row (−3.7 % after −2.1 %). The prices of oil seeds and vegetable oils continue to drop (−4.6 % after −6.1 %), driven down by soybean meal price (−9.5 % after –7.7 %). Cereals prices fell drastically (−9.2 % after −0.9 %), due to large global crops. The price of rice fell back (−10.4 % after +10.2 %). The price of beef meat continued to erode (−1.3 % after −1.2 %). Tropical foodstuff prices slipped back,

because of the fall in arabica prices whose inventories are very high. After three months of increase, the price of sugar flattened out (+0.3 % after +3.4 % in July and +16.6 % in June).

G_alim_ang – Food

  • Source : INSEE

Industrial commodity prices fell back

The prices in euros of industrial raw materials fell back in August (−0.9 % after +2.9 %). The prices of minerals faltered (−0.9 % after +3.0 %). Indeed, the prices of non-ferrous metals decreased (−2.1 % after +0.1 %), and those of precious metals slipped back (−3.7 % after +12.1 %). The rise in iron ore prices eased (+5.5 % after +11.9 %). The prices of agricultural raw materials also fell back (–1.0 % after +2.8 %), notably wood pulp price (−1.3 % after +2.4 %); the decline concerned every types of products.

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

base 100 in 2000
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 212,4 –3,7 –1,3 –4,0
Tropical foodstuffs 210,9 –2,3 4,6 –2,1
Oil seeds, vegetable oils 235,0 –4,6 –5,4 –6,6
Cereals 149,1 –9,2 –6,2 –0,6
Sugar 200,0 0,3 21,0 86,2
Beef meat 143,2 –1,3 –5,0 –18,8
Industrial raw materials 155,4 –0,9 3,9 5,2
Agricultural raw materials 115,6 –1,0 2,5 4,3
Natural Fibres 136,5 –2,1 13,9 10,6
Natural rubber 136,1 –0,6 –3,2 –0,6
Hides 75,4 –1,5 3,4 1,9
Wood pulp 98,3 –1,3 3,1 –4,8
Tropical wood 97,5 –1,6 –9,0 –16,5
Sawn softwood 104,9 –0,5 3,6 20,9
Minerals 177,3 –0,9 4,3 5,6
Iron ore 399,5 5,5 11,2 8,4
Non-ferrous metals 143,3 –2,1 2,0 2,3
Precious metals 260,2 –3,7 11,4 17,4
All commodities 170,0 –2,0 1,7 1,0
  • Source : INSEE