The London Fish ExchangeData / Market Insight / News
LFEX European Aquaculture Snapshot to 31st August, 2023
The LFEX Norwegian Exporters Index for Week 35 2023 was up +2.15%, +1.53 NOK to stand at 72.53 NOK FCA Oslo Week ending Thursday vs previous Thursday.
The NOK rate was up at 11.58 to the Euro over the period Thursday to Thursday +0.03 NOK or +0.26%. The Fish Pool future August was reported up +0.5 NOK, +0.5 NOK at 73.50 NOK with September showing 69.75.
The index price opened just softer for week 35 trading last Friday at 70.59 NOK -0.41 NOK from the previous week (Thursday), with smaller sizes 3-5s helping the small decline. Monday and Tuesday were at the same levels, and while the index remained stable on Wednesday at 70.42 NOK a gap had developed between the 3-4s and 5-6s of over 4 NOK. Thursday saw a pop of around 2-3 NOK to finish on the high of the week with the spread reducing a little. Remember the index is sellers offered prices daily, not traded. There were reports of a lot of fish being sold out cheaper to push up prices at the end of the week and we capture this sentiment. Fresh volumes for week 34 were 24,098 tons (just below the 24,160 wk34 2022).
For next week prices are expected to open slightly up from last week’s averages starting around the 70 / 71.5 / 73.5 levels. Holidays are over, harvest is good and Europe is in full production mode with a supply / demand balance, although maybe slightly less 5/6s coming through. We shall see.
David Nye’s technical analysis report will be published on Monday.
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Did You Know?
Provenance, specifications and logistics documentation are supported order by order.
Operational documentation can be added to the platform to allow you to manage the sales, shipping, invoicing and provenance and certifications. Buyers are becoming more demanding of supporting documentation, and this can be made available down to the individual order/trade level or managed and searched on the system for your administrative teams to handle in real-time.
Q. Can I offer the same trucks to multiple buyers and then negotiate with each of them?
A. The simple answer is yes. You can set-up an offer and send it to multiple counterparties at the same time. You can negotiate and manage this volume between the counterparties and sell full or part of this inventory. Importantly the system won’t let you over-sell inventory you don’t want to offer / don’t have.