LFEX European Aquaculture Snapshot to 7th March, 2024

John Ersser - The London Fish Exchange

Published: 8th March 2024

This Article was Written by: John Ersser


The LFEX Norwegian Exporters Index for Week 10 2024 ended the week up +0.25%, +0.28 NOK to stand at 113.09 NOK (in EUR terms 9.92 / +0.11 / +1.13%) FCA Oslo Week ending Thursday vs previous Thursday.

The NOK rate ended down at 11.40 to the Euro over the period Thursday to Thursday up -0.10 NOK or -0.87%. The Fish Pool future March was reported up +0.30 NOK, +0.27% at 113.00 NOK.

The index opened stronger at 119.90 compared to the prior weeks close (112.81), a significant rise of over 7 NOK, and bang-on where it started week 9 before dropping off. Much the same can be said of this week as prices intra-week again fell, although this week Friday was the peak, and the market was generally a little softer. Monday saw 117.25, Tuesday 116.27, flat Wednesday 116.56 and the ‘usual’ drop off on Thursday.

What’s the story – high prices for low volume superior fish, low prices for higher volume production fillets, unsold high value fish gets sold off a little cheaper as the week progresses. Next week looks like things are moving a little, still a lot of production fish distorting the market, but the spread in prices by size starting to come in especially on 5+ fish. Pricing looks to follow the similar pattern as last week – depending on where it starts. Looking around the 113.5 NOK levels at the moment as we go into the week. With Easter approaching there will be more fish coming through and buyers will be starting to think about this.

By comparison for next week – trading in week 11 2023 was up +0.95 at 125.74 NOK – and a new intraweek peak was achieved at 135.70 reduced volumes hit the market….phew.

David Nye’s technical analysis report will be published later next week.

  Market Data (Click Each to Expand)

LFEX Prices

FX Rates

LFEX Indicative Exporter Prices (4 Week)

EUR / NOK FX Rate (4 Week)

Prices Ending 7th March, 2024

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