The London Fish Exchange

LFEX European Aquaculture Snapshot to 3rd May, 2024

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The LFEX Norwegian Exporters Index for Week 18 2024 ended the week up +6.43%, +7.64 NOK to stand at 126.47 NOK (in EUR terms 10.69 / +0.57 / +5.62%) FCA Oslo Week ending Thursday vs previous Thursday.

The NOK rate ended up at 11.83 to the Euro over the period Thursday to Thursday +0.09 NOK or +0.77%. The Fish Pool future May was reported up +2.25, +1.92% at 119.25 NOK.

As suggested the week opened with a jump higher at 126.94 NOK or an 8 NOK increase on last weeks close (118.83), and there it stayed as prices plateaued. Expectations of a decrease over the week didn’t materialise, if anything edging up to the May bank holiday (127.18 and 128.54) being pulled up by the price of 5/6s. No respite from these levels on the Thursday where the market ended where it started 126.47. A further softness in the EURNOK made things marginally cheaper for Euro buyers.

Lack of superiors / more production fish and low harvesting underpinning pricing strength and a 4 day week to get things done, 3 days in Poland. Looking to next week and things seem to be continuing in a similar pattern. Early indications are for the index to open further ahead around the 130 NOK mark, and another 4 day week (Ascension day 9th May). However, price discovery is challenging, and the feeling is that prices will/may come down, especially in the smaller sizes.

Volume figures for week 17 were up on the prior week at 12,923 vs 11,766, however week 17 2023 reported 17,281 tons a huge gap in reported sales.

A year ago – by comparison week 19 2023 prices ended sharply lower at 101.35 with a 10% drop. Volumes for this week were 15,822 tons. The EURONOK rate also strengthened to 11.53.

David Nye’s technical analysis report will be published on Tuesday.

Did You Know?

Many buyers have repeat business, week in week out. This can be systematised creating efficiencies into your daily operations.

The beauty of a professional and well thought through mature technology is that we can provide users these benefits. The system will remember your last RFQ order and auto populate if you are not a heavy user. You can also set-up your own default RFQ’s meaning your whole order profile is literally available at the click of 1 button. Within 5 seconds you can get your perfect RFQ out to as many sellers as you want, week in week out.

FAQ’s

Q. I am concerned about beginning the transition from manual to electronic transacting. Is it acceptable to do both?

A. The short answer is of course yes. In fact, we recommend that this is how people start. By dipping your toes you learn about the system, what you see and what to expect. You can then build confidence and proactively use the system to get the maximum benefit from it. You can download the orders from the system if you need to into a CSV file, or input data into your existing system in the same way you do a manual trade. For more advanced users we can connect via the LFEX API.