LFEX European Aquaculture Snapshot to 8th February, 2024

John Ersser - The London Fish Exchange

Published: 9th February 2024

This Article was Written by: John Ersser

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The LFEX Norwegian Exporters Index for Week 6 2024 ended the week down -2.29%, -2.56 NOK to stand at 109.20 NOK (in EUR terms 9.58 / -0.25 / -2.55%) FCA Oslo Week ending Thursday vs previous Thursday.

The NOK rate ended up at 11.40 to the Euro over the period Thursday to Thursday +0.03 NOK or +0.26%. The Fish Pool future February was reported up +2.30 NOK, +2.15% at 109.50 NOK.

The index opened up last Friday +2.52% / 114.64 compared to the previous weeks closing levels. This was expected based on supply issues from the storms and demand from the Chinese market. Friday was the peak and prices then softened across the period also as predicted. Monday at 112.70, Tuesday found the 110 level at 110.75 with Wednesday at 110.19. Thursday closed the week out at the low, with a top to bottom spread of 5.44 NOK. 5/6’s holding value better in the decline and a spread of around 21 NOK between 3/4’s and 5/6’s.

Next week looks like prices will hold on to the current level – with the index round 110 level. Volumes are again expected to be low. However, prices are feeling strong for the buyers at these levels and absent any other factors this will probably push prices down over the week.

By Comparison – pricing for Week 7 last year was a strong week ending up at 105.64 as winter wounds reduced supply on soft demand.

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 8th February, 2024

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