Source:Insee

FEBRUARY 2008- RAW MATERIALS Prices soar

Overall RAW MATERIALS Prices imported in France increased +7.4% in Euro rebounding from the previous month downward trend impacted upwards by the foodstuff prices index +11.4% gain while mineral products prices rose a modest +6.4% by comparison. Brent crude oil price rose +3% and heating oil +4.4%
Out of the foodstuff component, the tropical food price index rose +13.6%cereals +6.7% and sugar +12.4% Expressed in currency, prices mirrored these trends including Brent and heating oil prices. Similarly and as regards industrial products, the strongest increase was recorded by precious metals +11.3% gain expressed each in Euro and currency, while the strongest price cut involved  coniferous trees sawn timbers -8.6% in Euro and -8.4% in currency.

In one year and in Euro, the overall index increased +8.3%. The foodstuff products price index soared +59% . Brent crude oil/pb skyrocketed  +46.6% and heating oil +45.2%. Out of the foodstuff index, the tropical food price index component increased +26% cereals +12.1% and sugar +8.6% Industrial products -5.8% tamed the overall index as most components recorded significant import price cuts:   the leather price index fell -26.5%  coniferous trees sawn timbers -24% and minerals -6.1% Natural textile fibers price index rose +11.4% and natural rubber +11.1% while precious metals, due to a weak dollar increased +25.6%

In currency, the overall index jumped +21.5% impacted by a weak dollar pushing prices up in dollar terms. Brent crude oil stayed on an inflationary trend to a record +65.3% and heating oil +63.8% The foodstuff price index jumped +77.8% tropical food +42% cereals +26.4% and sugar +22.5%
Industrial products mirrored the Euro prices index per component but grew overall +6% The natural textile fibers prices index increased +25.3% twofold compared with the Euro prices due to a weak dollar, natural rubber +15.5%leatrher prices fell -17.2% wood -14.3%.
By contrast minerals prices rose +6.1% inversely to prices expressed in Euro while precious metals prices jumped +47.6% While non ferrous metals prices rose a modest +4.7% in currency they fell -7.15 in Euro.

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