LFEX European Aquaculture Snapshot to 3rd May, 2024

John Ersser - The London Fish Exchange

Published: 3rd May 2024

This Article was Written by: John Ersser


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.

  Market Data (Click Each to Expand)

LFEX Prices

FX Rates

LFEX Indicative Exporter Prices (4 Week)

EUR / NOK FX Rate (4 Week)

Prices Ending 3rd May, 2024

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