The London Fish Exchange

LFEX European Aquaculture Snapshot to 4th April, 2025

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The LFEX Norwegian Exporters Index for Week 14 2025 ended the week DOWN -6.10 NOK / -7.89% to stand at 71.19 NOK (in EUR terms 6.27 / -0.54 / -7.89%) FCA Oslo Week ending Thursday vs previous Thursday.

The NOK rate ended flat at 11.36 to the Euro over the period Thursday to Thursday. The Fish Pool Euronext future May was reported down Thursday to Thursday -0.90 / -11.54 % at 6.90 EUR, approximately 78.38 NOK.

The Last Week

No respite from weaker prices this week. Friday extended the prior week falls with a further drop of over 4 NOK on the opening trading day for week 14, to bring the offered index level down to the 73.25 levels. Monday saw the index 0.5 NOK softer as prices edged down, and this weakness set the tone for the rest of the week. Tuesday losing 0.3 at 72.5 and Wednesday at 72.33. End of the trading week and pricing was again stressed with unsold fish helping the index to close at the low of the week at 71.19 NOK. A lot of fish being harvested and not easily finding a home. Sentiment not helped by US tariffs and the tragic earthquake in Myanmar and Thailand.

Total spreads have again compressed at the end of the week to 1 NOK between sizes 3/4s and 5/6s.

The EURNOK FX rate was volatile all week, peaking and troughing between the 11.27 and 11.41 levels whilst end fairly neutrally.

Next Week

Early pricing indications from exporters for next week are coming around the 76.5 NOK level offered for the index. This is up around 5 NOKs from Thursdays low close. Mixed messaging from the market, prices seem stable today at this level but next week isn’t an easy call. Good volumes available and more big fish. Spreads remain compressed at the 1 NOK level.

EUR NOK FX rate has had a big move up 11.67 currently and expected to continue to move up from these levels. This would give an indicative Euro index price around 6.56 on levels later Friday.

Volumes – Fresh Export

Volume figure for week 13 (2025) was 18,828 tons up 9,316 as compared to 9,512 in 2024 nearly doubling volumes. Volumes for week 14 and week 15 (2024) were 11,675 and 13,015 respectively for comparison.

Historical Price Guidance for Next Week

The LFEX Norwegian Exporters Index for Week 15 2024 ended the week down -2.77%, -3.33 NOK to stand at 137.13 NOK (in EUR terms 11.81) FCA Oslo. The NOK rate ended up at 11.61 to the Euro. The Fish Pool future April was reported up +8.60 NOK, +7.23% at 127.60 NOK.

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

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