The London Fish Exchange

LFEX European Aquaculture Snapshot to 31st January, 2025

---

The LFEX Norwegian Exporters Index for Week 5 2025 ended the week down -5.1 NOK / -5.50% to stand at 87.67NOK (in EUR terms 7.45 / -0.45 / -5.66%) FCA Oslo Week ending Thursday vs previous Thursday.

The NOK rate ended up +0.02 NOK /+0.17% at 11.76 to the Euro over the period Thursday to Thursday. The Fish Pool Euronext future February was reported down Thursday to Thursday – 0.13 EUR / -1.43% at 8.97 EUR which equates to approximately 105.48 NOK with March showing 9.20 Euro.

The Last Week

This week was difficult to forecast the direction of travel as the Chinese New Year orders fell away. The reality was another down trending week for the index. While the index opened slightly stronger +0.76 NOK as sellers pushed prices, the levels were at 91.33 by Monday. Tuesday saw a slight fall -0.60NOK and Wednesday took a further 1 NOK out of prices. A familiar story for Thursday at the end of the week as unsold fish brough prices down to 87.67 and a top to bottom fall of 5.23NOK for the trading week.

Total spreads between sizes have remained at the 5 NOK on close. 4/5s have moved closer to 3/4s by Thursday pricing.

The EURNOK FX rate jumped to 11.81 NOK on Monday but gave this back to close out at 11.76 giving a comparable Euro index price of 7.45 Euro.

Next Week

Early pricing indications from sellers for next week are coming around the 90.11 NOK level offered for the index, a 2.4 NOK lift from Thursdays close. There is a clear consensus that there is plenty of fish around and demand remains poor. Buyers seem to be holding back wait to see where prices get to.

EUR NOK FX rate is pretty much level at 11.745 this afternoon. This would give an indicative Euro index price around 7.67 on levels later Friday.

Volumes – Fresh Export

Volume figures for week 4 (2025) was 15,564 tons up 222 tons as compared to 15.342 in 2024. Volumes for week 5 and week 6 (2024) were 13,511 and 15,826 respectively for comparison.

Historical Price Guidance for Next Week

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) FCA Oslo. The NOK rate ended up at 11.40. The Fish Pool future February was reported up +2.30 NOK, +2.15% at 109.50 NOK.

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

Did You Know?

The LFEX stores all your previous orders and transactions for immediate access to all your activity on the platform.

It also saves previous orders so that you can quickly and accurately input new orders / RFQ’s without having to constantly key in new order information and allows constant updating of these orders (price / volume etc) as the market develops, until you trade or end the RFQ.

FAQ’s

Q. Can I manage a sub-set of my client list to show prices or specific requests for prices?

A. Yes the LFEX system flexibility allows users to show interest to one counterpart, all counterparties or a specific group of counterparties that you chose. The system is built to be as flexible as possible, replicating real world processes, but automating them making it much more efficient. So, if you want to quote/target a sub-set of users because of geography / currency / inco terms etc it is easy to do.