LFEX European Aquaculture Snapshot to 30th November, 2023

John Ersser - The London Fish Exchange

Published: 1st December 2023

This Article was Written by: John Ersser


The LFEX Norwegian Exporters Index for Week 48 2023 ended the week up +3.78%, +3.04 NOK to stand at 83.48 NOK (in EUR terms 7.12 / + 0.24 / + 3.43 %) FCA Oslo Week ending Thursday vs previous Thursday.

The NOK rate ended up at 11.73 to the Euro over the period Thursday to Thursday +0.04 NOK or +0.34%. The Fish Pool future November was reported up +1.25 NOK, +1.61% at 79.0 NOK with Dec showing 85.5 and no change over the week.

The index price opened on Friday at 83.40 NOK / +3.55 %, +2.96 NOK in-line with market indications of +2/3 NOK and there it stayed pretty much for the week. A little more strength was found on Monday at 84.65 as prices were pushed. Tuesday the high at 84.74, before a gentle fade back 84.36 on Wednesday closing a completely flat trading week at 83.48. What happened? Prices were pushed up at the beginning of the week and stayed there – however – there is a lot of fish from both Norway and Iceland leftover, a reflection that there are not enough buyers able to absorb the fresh supply.

Next week according to history prices should be heading up. However, the market is quiet and with fish around no reason to panic purchase. Sellers are pushing for 88/89 but buyers sense this isn’t realistic. Price formation is still in process, and an early look is currently around 83/84 – so flat. This may change as the afternoon develops.

Week 47 fresh volumes were 22,141 matching the same period last year at 22,492 week 47 2022, (the week 47 ’22 price closed out at 81.45 NOK (80.44 for ’23) by way of pricing reference but the Euro was at 10.35, making Euro based fish cheaper than the previous year for the same week. Updated index pricing as usual will be published later today.

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 30th November, 2023

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