The London Fish Exchange

LFEX European Aquaculture Snapshot to 31st October, 2025

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The LFEX Norwegian Exporters Index for Week 44 2025 ended the week DOWN -1.35 NOK / -1.72% to stand at 77.18 NOK (in EUR terms 6.61 / -0.17 / -2.48%) FCA Oslo Week ending Thursday vs previous Thursday.

The NOK rate ended UP at 11.67 (+0.09 / +0.78%) to the Euro over the period Thursday to Thursday. The Fish Pool Euronext future December was reported FLAT Thursday to Thursday at 6.87 EUR, (0.00 / +0.00%) approximately 80.17 NOK.

The Last Week

A steady week with an overall reducing trend. Prices were pushed 1.18% higher on open to 79.46 on Friday after a strong previous week. Prices also held for Monday edging higher for the peak of the week at 79.85, showing good strength for the early part of the week. Prices however softened gently from Tuesday back to 78.8, and Wednesday took a further dip by 1.25 NOK which left us to close out on the low at 77.18 NOK. Overall, an intraweek fall of 2.87% while registering a smaller 1.72% fall as compared to the previous weeks close.

FX rate was less volatile this week as we saw the EURNOK rate continue to pick-up from the recent lows of 11.57 on the 23rd. Opening at 11.62 on Friday the rate increase to 11.655 by Tuesday, gave back small Wednesday and closed out at 11.67. Overall, the rate change meant that Euro buyers had a 2.48% cheaper price by Thursday.

Spreads on the index compressed to 2 NOK later in the week and finished around 2.5 NOK between 3-4 and 5-6 evenly spread.

Next Week

Early indications around the 77.4 NOK level for the index which would put it just ahead of Thursdays close. No major potential issues to report on Friday afternoon. Again, talk of 6+ size being plentiful.

Spreads between 3/4s to 5/6s have increased a NOK over last week around the 3.5 NOK level currently.

EUR NOK FX rate is this afternoon around the 11.66 level. This would give an indicative Euro index price around 6.64 on offered levels later Friday – a decrease of 0.18 Euro versus this time last week.

Volumes – Fresh Export

Volume figure for week 43 (2025) was 25,886 tons UP 976 as compared to 24,910 in 2024 some 3.92 % HIGHER. Volumes for week 44 and week 45 (2024) were 25,749 and 23,871 respectively for comparison.

Historical Price Guidance for Next Week

The LFEX Norwegian Exporters Index for Week 45 2024 ended the week up +3.83 NOK / +5.38% to stand at 74.99 NOK (in EUR terms 6.38 / + 0.42 / +7.00%) FCA Oslo. The NOK rate ended down at 11.75 to the Euro. The Fish Pool future November was reported up Thursday to Thursday -3.00 NOK / -3.80% at 76.0 NOK.

David Nye’s technical analysis report will be published on Monday.

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