The London Fish ExchangeData / Market Insight / News
LFEX European Aquaculture Snapshot to 25th May, 2023
Published: 26th May 2023
This Article was Written by: John Ersser
The LFEX Norwegian Exporters Index for Week 21 2023 was slightly softer with the market down -1.47%, -1.67NOK to stand at 111.97 NOK FCA Oslo Week ending Thursday vs previous Thursday.
The NOK rate was up / flat at 11.73 to the Euro over the period Thursday to Thursday +0.02 NOK or +0.17%. The Fish Pool future May was reported higher at 106.0 NOK up +3.5 NOK or +3.41%.
A normal 5 day week opened slightly weaker with a 2.76 NOK / 2.46% drop to 110.85 NOK, and then prices remained millpond smooth for the week with a flat lining chart. Monday saw 111.09, Tuesday 111.11, Wednesday 110.1 and a slight tick-up to close the week at 111.97. Higher prices have subdued some appetite. Next week is another 4 day week (Monday off). Offers are currently a little higher than where we left off week 21 and will probably remain this way for Tuesday too. Buyer demand above 100NOK for 3-4s is poor. Consideration that prices might start to tail off later in the week. Buyers want pricing to come down but it is not happening quickly enough. In the weeks ahead biomass will be increasing and more harvest coming through and there is the expectation for the lowering of prices as we get into this cycle. 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 25th May, 2023
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