20 September 2016
2016- n° 240In August 2016, slight rebound in oil prices and sharp decline in raw food commodity
prices Prices 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.
graphiqueG_petrole_ang – Oil (Brent)
- Source : INSEE
tableautabpetrole – 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).
graphiqueG_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.
graphiqueG_indus_ang – Industrial raw materials
- Source : INSEE
graphiqueG_ensemble_ang – Imported raw materials (excluding energy)
- Source : INSEE
tableautabmatprem – 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
Pour en savoir plus
Time series : Raw materials prices
