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LFEX European Aquaculture Snapshot to 10th February, 2022
Market Insight – Europe
A huge week in the market. Prices sharply up with the LFEX Norwegian Exporters index up 12.72%, +9.58 NOK at 84.91NOK FCA Oslo Week 6 ending Thursday vs previous Thursday price.
The NOK was +1.41% weaker to the Euro +0.14 at 10.09 NOK over the period Thursday to Thursday and the Fish Pool future February also climbed +3.5 to 75.0 NOK, +4.67% better over the same period.
An already tight market opened up 3.61 NOK (+4.79%) from Thursdays’ pricing and really just kept going for one of the biggest gaining weeks we have seen. The story is little changed from last week with a dearth of export quality fish available for sale (estimates around 70% exportable versus 90% – 95% norm). Throw in bad weather and decent demand even at these price levels with people chasing fish and prices are getting driven up. The market is up 33% since December close, and there is talk of higher prices next week with perhaps the 9 Euro barrier being hit.
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