The London Fish ExchangeData / Market Insight / News
LFEX European Aquaculture Snapshot to 28th September, 2023
The LFEX Norwegian Exporters Index for Week 39 2023 was up +6.14%, +4.69 NOK to stand at 81.13 NOK (approximately 7.17 EUR) FCA Oslo Week ending Thursday vs previous Thursday.
The NOK rate was fell to 11.32 to the Euro over the period Thursday to Thursday -0.19 NOK or -1.65%. The Fish Pool future September was reported up +0.5 NOK, +0.68% at 74.5 NOK with October showing 74.
Index prices opened up significantly higher than early indications for offered prices week 39, +3.81 NOK to the good over last Thursday’s price at 80.25 NOK based on supply and demand, and last week supply was reduced. Monday was flat, while Tuesday saw a small increase again to 81.64 which held for the week. With the NOK rate finding strength this week +1.65% the cost for Euro buyers was a more pronounced up 7.92% to 7.17, which explains some cost increase as well as reduced volumes. For next week the currency strength will continue to play a part, as well as it seems less medium and large fish from some larger suppliers. Throw an emergency harvest of 2700 tons in the north (due to pancreatic disease), into the mix and a price point that some buyers might start to get sensitive to given the still large seasonal volumes and it’s difficult to call. Early price formation indications are still ranging from around 80 to 84 3-6’s with some in the middle at 82.5 So, no clarity on pricing as we report. We shall see.
David Nye’s technical analysis report will be published on Monday.
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