The London Fish Exchange

LFEX European Aquaculture Snapshot to 5th December, 2025

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The LFEX Norwegian Exporters Index for Week 49 2025 ended the week UP + 10.34 NOK / +12.40% to stand at 93.73 NOK (in EUR terms 7.96 / +0.89 / +12.59%) FCA Oslo Week ending Thursday vs previous Thursday.

The NOK rate ended DOWN at 11.78 (+0.02 / +0.17%) to the Euro over the period Thursday to Thursday. The Fish Pool Euronext future January was reported UP at 7.70 EUR (+0.05 / +0.65%) Thursday to Thursday, approximately 90.7 NOK. February showing 8.38.

The Last Week

A strong up week for prices. The week opened up strongly at 88.69 a 5.3 NOK jump from the prior Friday. It may have been a push too much for the buyers as prices settled back on Monday to 87.38. However, the trend was clear by Tuesday as index levels bounced up to over 90 on Tuesday and continued to gain ground Wednesday and Thursday for a strong week leading into the festive period. Close levels equivalent to 7.96 Euro.

FX rate saw overall reduction as the EURNOK rate. The pair was range bound 11.75 – 11.79 during the week and closed out at 11.78 off 0.2 week on week.

Spreads on the index tightened marked towards the end of the week with 3/4s and 5/6s coming in at around 1 NOK.

Next Week

Early indications show that we are breaching the offered indicative level of 100 NOK for the index which would put it around 11.5 NOK higher than this time last week and 6.5 NOK ahead of last week’s (yesterday’s) close. Prices are being pushed for the pre-Christmas sales.

Spreads between 3/4s to 5/6s are around the 3.5 NOK level this afternoon.

The EUR NOK FX rate is this afternoon around the 11.747 level off 0.035 since yesterday. This would give an indicative Euro index price around 8.51 EURO on offered levels later Friday – an increase of nearly 1.00 Euro versus this time last week.

Volumes – Fresh Export

Volume figure for week 48 (2025) was 24,188 tons DOWN 1188 tons as compared to 25,376 in 2024 some 4.91 % LOWER. Volumes for week 49 and week 50 (2024) were 25,742 and 25,658 respectively for comparison.

Historical Price Guidance for Next Week

The LFEX Norwegian Exporters Index for Week 50 2024 ended the week up +5.48 NOK / +6.43% to stand at 90.68 NOK (in EUR terms 7.78 / +0.47 / +6.43%) FCA Oslo. The NOK rate ended up where it started the week at 11.66 to the Euro. The Fish Pool future December was reported at 87.50 NOK.

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

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