The London Fish Exchange

LFEX European Aquaculture Snapshot to 11th April, 2025

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The LFEX Norwegian Exporters Index for Week 15 2025 ended the week UP +12.79 NOK / +17.97% to stand at 83.98 NOK (in EUR terms 7.02 / +0.76 / +12.05%) FCA Oslo Week ending Thursday vs previous Thursday.

The NOK rate ended UP at 11.96 to the Euro over the period Thursday to Thursday. The Fish Pool Euronext future May was reported down Thursday to Thursday -0.05 / -0.72 % at 6.85 EUR, approximately 81.92 NOK.

The Last Week

Big movements in prices this week especially in NOK terms. Prices corrected considerably this week, kicking off on Friday with a 7.5% jump on the prior week close at 76.56 NOK. It was a difficult market to read going into week 15, and some stability was found on Monday levels at 77.04. However, prices took off further on Tuesday up a further 3.5 NOK at 80.87 and another 2 on Wednesday at 82.77 and a grand finale of a further 1.5 NOK to cap the week on a high at 83.98 and a huge 18% gain bottom to top. Why, mainly because next week leading to Easter there are only 2.5 production days and a following 4 day week, and some talk of a post tariff suspension relief rally adding to a positive sentiment.

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

The financial markets have seen phenomenal volatility this week as Trump tariff policy has seesawed through the markets – with the VIX volatility index (the fear index) hitting over 50 intra week and the highest levels since 2020 pandemic. EURNOK FX rate was volatile all week, peaking and troughing to hit 12.18 on the 9th to fall back and then rebound again. Oil prices also weighing in on NOK weakness and OPEC+ production.

Next Week

Early pricing indications from exporters for next week are coming around the 100 NOK level offered for the index. This is up a further 16-17 NOK on Thursday’s pricing. It’s the pre-Easter week and trading is getting squeezed into 2.5 days with a short week to follow, hence the significant push up in prices. Spreads have increased to around 3 NOK between each weight range.

EUR NOK FX rate has continued to move up and currently sits at the 12.11 levels. This would give an indicative Euro index price around 8.26 on levels later Friday.

Volumes – Fresh Export

Volume figure for week 14 (2025) was 19,053 tons up 7,378 as compared to 11,675 in 2024. Volumes for week 15 and week 16 (2024) were 13,015 and 11,766 respectively for comparison.

Historical Price Guidance for Next Week

The LFEX Norwegian Exporters Index for Week 16 2024 ended the week down -9.18%, -12.59 NOK to stand at 124.54 NOK (in EUR terms 10.62) FCA Oslo. The NOK rate ended up at 11.73. The Fish Pool future April was reported up +2.9 NOK at 130.50 NOK.

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

Did You Know?

The LFEX platform has been designed to allow you to manage your business in real-time from a single application.

It means not only is key information available at your fingertips to allow you to make the trading decisions you need to make, it allows you to act on those decisions effectively and efficiently. As a tool it matches systems found in financial markets where time and money are critical.

FAQ’s

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