The London Fish Exchange

LFEX European Aquaculture Snapshot to 7th December, 2023

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The LFEX Norwegian Exporters Index for Week 49 2023 ended the week down -2.23%, -1.86 NOK to stand at 81.62 NOK (in EUR terms 6.94 / – 0.18 / – 2.48 %) FCA Oslo Week ending Thursday vs previous Thursday.

The NOK rate ended up at 11.76 to the Euro over the period Thursday to Thursday +0.03 NOK or +0.26%. The Fish Pool future December was reported down – 0.50 NOK, -0.63% at 85.0 NOK.

The index price opened on Friday at 84.63 NOK / +1.36 %, +1.15 NOK close to the early indications on the Friday – you could argue the sellers had it by a nose given unsold fish from the prior week. Prices we pretty flat for the week again, with Monday giving back a little to 83.59 which was probably the right and Tuesday 84.13. Wednesday and Thursday were downhill a little closing out the week at 81.62 – the low for the week and printing an overall loss. The range was 3 NOK over the week – around 3.5%. What happened – a slower week for sales – mainly because the price didn’t match the volume. The prices were too high and more volume came through aided and abetted by some emergency harvesting of smaller sizes because of jelly fish.

Next week is wide open currently – with lower indications between 81 ish for the week however with higher prices 86 ish to start the new week off. So, currently looking like a higher start with a drop off in price with good availability of smaller fish during the week. This may change as the afternoon develops…updated index pricing as usual will be published later today and we will have more visibility.

Week 48 2023 fresh volumes were 22,910 vs 22,316 for the same period last year and the index stood at 78.07 NOK for WK48 – as a comparison. David Nye’s technical analysis report will be published on Monday.

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

Did You Know?

You can let different people from your company use the platform and share information?

The system is set-up to be able to show all your offers or trades going through the system and allow multiple users in your company access to this information in real-time. This helps build a picture of sales / purchases and pricing across the business and facilitates teams work and optimisation of the selling / buying process, as well as giving logistics and finance real-time information. This data is private and only available to your organisation.

FAQ’s

Q. How can I optimise my sales in weeks where there may be a reduction in buying volume?

A. Active engagement with as many counterparties as possible will help with distribution. Widening global reach would also help with this, especially if the softness is within a particular market, and funnel volume elsewhere. Proactive updating of pricing and offers will create a sense of movement in the market and spur activity, as well as targeted pricing by clients or geography. Encourage engagement with dialogue on chat and market updates and even get buyers to put up bids to you help build a better market picture.