The London Fish ExchangeData / Market Insight / News
LFEX European Aquaculture Snapshot to 5th October, 2023
The LFEX Norwegian Exporters Index for Week 40 2023 was down -2.47%, -2.00 NOK to stand at 79.13 NOK (approximately 6.83 EUR) FCA Oslo Week ending Thursday vs previous Thursday.
The NOK rate was jumped back to 11.58 to the Euro over the period Thursday to Thursday +0.26 NOK or +2.30%. The Fish Pool future October was reported up +4.00 NOK, +5.41% at 78 NOK.
Index prices opened up to the good last Friday +1.55 NOK / +1.87% at 82.68 pretty close to the early market indications around 82.5. Overall weakness in the underlying biomass price brought levels down, supported by a weaker EURNOK which was off 2.3%, meaning Euro buyers saw an overall drop last week to Thursday of -4.66%. Monday was the peak at 82.48 and the week trailed off from there, with Tuesday showing 82.04, Wednesday 80.82 to close on the low at 79.13. Volumes for week 39 were 24,952. Next week prices are looking stable with initial indications around 77.5 / 79 / 79-80. No premiums for bigger fish due to more availability and less Far East demand. Good volumes available and pricing may be influenced by the underling frozen VAP market pricing which isn’t at a premium at the moment. We shall see.
David Nye’s technical analysis report will be published on Monday.
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