The London Fish ExchangeData / Market Insight / News
LFEX European Aquaculture Snapshot to 16th March, 2023
Published: 18th March 2023
This Article was Written by: John Ersser
The LFEX Norwegian Exporters Index Week 11 2023 was up +0.76% +0.95 NOK to stand at 125.74 NOK FCA Oslo Week ending Thursday vs previous Thursday.
The NOK rate was up at 11.43 to the Euro over the period Thursday to Thursday +0.16 NOK or +1.42%. The Fish Pool future March was reported higher at 122.5 NOK up +9.50 NOK or +8.41%.
A record-breaking week where the LFEX Exporters Index peaked at 135.70 NOK breaking the April 26th 2022 of high of 130.44. In fact the record was exceeded 4 days in a row in Week 11. Prices kicked off the week on Friday up 8.14 NOK to 132.93, and peaked on Monday at the 137.7 level. Similar to last week’s pricing pattern, pricing remained consistent around these new elevated levels around the mark 134 NOK until Thursday which gave back 8.53 NOK around 6.35% – most of the week’s gain, to close out the week at 125.74. Significant lack of fish continues to be the root cause of these problems. Week 10 volumes were 13,901. For next week there maybe a little more fish and buyer resistance at the record price levels initially indicates pricing around / slightly above the Thursday closing out levels. We shall see.
David Nye’s technical analysis report will be published on Monday.
Market Data (Click Each to Expand)
|LFEX Prices||FX Rates||LFEX Indicative Exporter Prices (4 Week)||EUR / NOK FX Rate (4 Week)|
Prices Ending 16th March, 2023
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