The London Fish Exchange

LFEX European Aquaculture Snapshot to 20th March, 2026

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The LFEX Norwegian Exporters Index for Week 12 2026 ended the week DOWN -4.20 NOK / -4.25% to stand at 94.66 NOK (in EUR terms 8.61 / -0.25 / -2.77%) FCA Oslo Week ending Thursday to Thursday (yesterday).

The NOK rate ended DOWN at 11.00 (-0.17 / -1.52%) to the Euro over the same period. The Fish Pool Euronext future April was reported DOWN at 8.50 EUR (-0.58% / +0.05) for the same period for comparison with May showing 8.70.

The Last Week

A week of giving back (a bit). Last Friday saw the continued push in prices which saw the index breach the 100 NOK level for offered inventory, up 2.09% / 2.07 NOK on the prior week close and was the high of the week. Prices softened marginally on Monday to 99.24, bit still above water versus the prior week. Tuesday edged down further to 98.14, but the real movement came through on Wednesday down nearly 4 NOK to 94.29 where levels held for Thursday. Some unsold fish in the system and the large fish struggling significantly as freight costs and the war in the Middle East causing issues for China / Asian markets.

The FX rate was significantly lower this week closing at 11.00 dead off 0.17 from prior Thursday close linked to the upwards pricing of oil/gas this week.

Spreads between 3-6s have continued to be very tight this week and closed out pretty much flat, with little spread during the week although we saw 5/6s coming in slightly below 4/5s on Wednesday.

Next Week

Early indications showing prices around the 93 NOK offered level for the index as we head into the new week. This offered level represents a 1.5 NOK decrease over closing levels yesterday (Thursday). Lower prices for larger fish (6+) remain under significant pressure. Easter demand should start to show but the picture is unclear.

Spreads are tight but coming in around 0.5 NOK between 3-6, although 5/6s are cheaper than 4/5s this afternoon.

The EUR NOK FX rate is this afternoon is around the 11.03 level. The NOK dropped below 11 yesterday afternoon to 10.96 level, overnight around 10.99 level and picked up in early trade today to 11.04 levels. This would make a Euro price of 8.43.

Volumes – Fresh Export

Volume figure for week 12 (2026) was 17,120 tons, DOWN 347 tons as compared to 17,467 in 2025 some 1.99% LOWER. Volumes for weeks 12 and 13 (2025) were 18,172 and 18,826 respectively for comparison.

Historical Price Guidance for Next Week

The LFEX Norwegian Exporters Index for Week 13 2025 ended the week DOWN -8.95 NOK / -10.38% to stand at 77.29 NOK (in EUR terms 6.80 / -0.69 / -9.19%) FCA Oslo. The NOK rate ended down -0.15 NOK / -1.30% at 11.36 to the Euro. The Fish Pool Euronext future April was 7.15 EUR.

David Nye’s technical analysis report will be published next week.

Did You Know?

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FAQ’s

Q. What other views can I get on pricing?

A. We publish technical analysis every week from David Nye – the only company to do so using daily pricing data. It provides a further view on pricing trends and helps add colour to the short-term pricing picture and can be reflected back over 5 years of data.