The London Fish ExchangeData / Market Insight / News
LFEX European Aquaculture Snapshot to 23rd February, 2023
Published: 24th February 2023
This Article was Written by: John Ersser
The LFEX Norwegian Exporters Index Week 8 2023 was up +13.31% +14.06 NOK to stand at 119.70 NOK FCA Oslo Week ending Thursday vs previous Thursday.
The NOK rate was flat at 10.95 to the Euro over the period Thursday to Thursday +0.01 NOK or +0.09%. The Fish Pool future February was reported higher at 98.5 NOK up +4.75 NOK or +5.07%.
Another big leap in pricing as expected as low harvest volumes continued to exert pressure on pricing. The market rallied up at the start of the week +8.36 NOK or 7.91% at around 114 NOK before jumping again on Monday to 119.57 NOK where the market found some equilibrium. Tuesday marginally higher at 119.99 and small peak on Wednesday at 121.55 NOK before settling back again at 119.70 to close out the week. Week 7 (2023) volumes were 14,851 tons vs 17,933 in week 7 2022 as a comparison. There isn’t much expectation of higher volumes available next week either (or the following) which will continue to apply pressure on price. Potential for 5/6 fish to be incrementally higher. Demand at these levels will start to reduce, really depends on volumes available. As usual we shall see what the week brings.
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 23rd February, 2023
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