LFEX European Aquaculture Snapshot to 23rd February, 2024

John Ersser - The London Fish Exchange

Published: 1st March 2024

This Article was Written by: John Ersser


The LFEX Norwegian Exporters Index for Week 9 2024 ended the week down -4.29%, -5.06 NOK to stand at 112.81 NOK (in EUR terms 9.81 / -0.57 / -5.46%) FCA Oslo Week ending Thursday vs previous Thursday.

The NOK rate ended up at 11.50 to the Euro over the period Thursday to Thursday up +0.14 NOK or +1.23%. The Fish Pool future February was reported up +1.00 NOK, 0.88% at 114.50 NOK with March showing 112.70.

The index opened stronger at 119.95 compared to last weeks close, a more modest rise of 2.08 NOK, or 1.73%. Monday saw a surge up to 123.41 and the high of the week, and then it was downhill from there. Tuesday a still high 121.41, Wednesday 118.19 and a significant drop off yesterday, Thursday to 112.81. Top to bottom drop of 10.6 NOK / 8.5% in 3 days.

What’s the story – prices were pushed to levels some buyers are struggling with and as a little more superior fish came into the market compared to last week, unsold fish pushed pricing down at the end of the week. We’ve covered the reasons for short fall in exportable biomass specifically and generally in our reports over the past few weeks. Generally it is felt that Q1 and Q2 will remain at a lower volume level as producers hold on to depleted stocks and a lack of superior fish. The volume of production grade fish in the system has caused significant disturbance however in market dynamic. The coming Easter demand is expected to also expert some pressure on pricing in the coming weeks.

Next week looks like more of the same with pricing starting around 120 NOK as the week kicks off, having been pushed up during Friday.

By Comparison for next week – trading in week 10 2023 was up +10.69 at 124.79 NOK – as reduced volumes hit the market again.

David Nye’s technical analysis report will be published later next week.

  Market Data (Click Each to Expand)

LFEX Prices

FX Rates

LFEX Indicative Exporter Prices (4 Week)

EUR / NOK FX Rate (4 Week)

Prices Ending 29th March, 2024

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Did You Know?

The LFEX system provides secure and private electronic chat services between you and your counterparties, and provides a record of truth of your discussions and negotiations.

It is also used internally within businesses to communicate. In the US regulated financial firms have been fined over USD$1 billion for the use of non-approved / unsecure public communications facilities.


Q. I want to use the platform more, how can I get my counterparties more involved?

A. As with most change, some need a gentle nudge. Make sure your buyers/sellers know you are using the platform and that you are set-up with them as valid trading partners to see your bids/offers/RFQ’s/chat. Get your orders on the platform early and respond to inquiries in a timely manner. Let them know you intend to manage your orders more through the platform and it will give them a competitive advantage with you and your firm to do the same. In the beginning work to get transactions done.