The London Fish ExchangeData / Market Insight / News
LFEX European Aquaculture Snapshot to 13th January, 2023
The LFEX Norwegian Exporters Index Week 2 2023 was up +8.62%, +7.75 NOK to stand at 97.67 NOK FCA Oslo Week ending Thursday vs previous Thursday.
The NOK rate ended up over the week ending at 10.72 to the Euro over the period Thursday to Thursday +0.02 NOK or +0.19%. The Fish Pool future January was reported higher at 93.4 NOK up +3.6 NOK or +4.01%.
Prices pushed a lot higher this week really based on the follow through of less fish the previous week and lower available volumes this week as well. Pricing jumped 6 NOK on the open to around 96 NOK and or around 6.25% and prices held and pushed higher on the Monday to 97.5 NOK where they remained for the week. Week 1 saw a reduction of 3000 tons compared to the equivalent week in ‘22 giving prices strength and this week was also substantially down on volumes. Pressure for product for the Chinese New Year added momentum to pricing. This week will be all about available volume. Chinese buying pressure will reduce but if volumes remain low prices will stick. Getting a read on volumes however isn’t easy for buyers. Technical charting analysis last Friday saw resistance at 96.35 and then 101.34 NOK As usual we shall see.
David Nye’s technical analysis report will be out on Monday.
Market Data (Click Each to Expand)
Did You Know?
The recent pricing is of course linked to available supply.
We track the volumes coming out of Norway on the platform for you, with Week 1 2023 showing 14,932 tons versus 18,114 tons for the 2022 new year week, and 18,590 for the same week in 2021. This combined with an earlier Chinese new year 22nd January versus 1st February in 22 adds pressure on pricing. Chilean pricing has also been tracking upwards at USD6.28 /lbs for D trims into the US with FoB PCM to Brazil USD 8.13 /kg.
Q. I want to send the same order as last week, how can I do this?
A. The purpose of technology is to build in efficiencies into your daily operations. The beauty of a professional and well thought through mature technology is that we offer these user efficiencies. The system will remember your last RFQ order and auto populate if you are not a heavy user. You can also set-up your own default RFQ’s meaning your whole order profile is literally available at the click of 1 button. Within 5 seconds you can get your perfect RFQ out to as many sellers as you want.