The London Fish Exchange

LFEX European Aquaculture Snapshot to 21st February, 2025

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The LFEX Norwegian Exporters Index for Week 8 2025 ended the week up +1.42 NOK / +1.59% to stand at 90.87 NOK (in EUR terms 7.83 / +0.19 / +2.55%) FCA Oslo Week ending Thursday vs previous Thursday.

The NOK rate ended down -0.11 NOK / -0.94% at 11.61 to the Euro over the period Thursday to Thursday. The Fish Pool Euronext future March was reported up Thursday to Thursday + 0.50 EUR / +0.66% at 7.65 EUR which equates to approximately 88.81 NOK.

The Last Week

For the second week running the index found stability for a flat trading week. The market opened a little stronger at 90.5 after last Thursday’s end of week 89.45 or around 1.17%. Monday saw a 0.5 NOK pickup, Tuesday, Wednesday, Thursday flat rounding out the week at 90.87. The 5/6s pricing held up. The overall trend was positive looking at the charts. Thursday could be argued at slightly down for the end of the week sales.

Total spreads between sizes 3/4s and 5/6s have come in slightly and are around 7.5 NOK’s on index close, the 5/6’s at a 5 NOK premium to 4/5s on Thursday pricing.

The EURNOK FX rate was trending south starting at 11.65 last Friday and dropping gently to 11.61 by Thursday, giving a comparable Euro index price of 7.83 Euro.

Next Week

Early pricing indications from sellers for next week are coming around the 92.1 NOK level offered for the index, which puts us up about 1.25 NOK from Thursdays close. There is again reasonable consensus that pricing is looking stable as we enter the coming harvest week, despite good volumes available. Smaller sizes are up more than the 5/6s which have remained near flat and brought the spread in to around 5.5 NOK today.

EUR NOK FX rate is showing 11.6275 this afternoon. This would give an indicative Euro index price around 7.92 on levels later Friday.

Volumes – Fresh Export

Volume figure for week 7 (2025) was 15,966 tons up 2,327 tons as compared to 13,639 in 2024. Volumes for week 8 and week 9 (2024) were 10,687 and 12,959 respectively for comparison.

Historical Price Guidance for Next Week

The LFEX Norwegian Exporters Index for Week 9 2024 ended the week down -4.29%, -5.06 NOK to stand at 112.81 NOK (in EUR terms 9.81) FCA Oslo. The NOK rate ended up at 11.50 to the Euro. The Fish Pool future February was reported up +1.00 NOK, 0.88% at 114.50 NOK with March showing 112.70.

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

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