The London Fish Exchange

LFEX European Aquaculture Snapshot to 14th June, 2024

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The LFEX Norwegian Exporters Index for Week 24 2024 ended the week down -0.38%, -0.31 NOK to stand at 81.42 NOK (in EUR terms 7.12 / +0.02 / +0.23%) FCA Oslo Week ending Thursday vs previous Thursday.

The NOK rate ended down at 11.43 to the Euro over the period Thursday to Thursday -0.07 NOK or -0.61%. The Fish Pool future June was reported down – 12.00, -12.50% at 84.00 NOK.

The market found stability this week after the intense volatility we have seen recently. The index opened lower on the Friday down 3.7% / 3 NOK at 78.71 from the prior week close, as prices continued their downward trajectory into early this trading week. This level seems to have provided support for prices, as Monday recorded pricing flat / marginally higher, and Tuesday saw similar again and the week low at 78.43. Prices have started to pick-up a little since with Wednesday showing 80.4 and Thursday closing on the high at 81.42.

For next week the balance between supply and demand seems to be fairly consistent – i.e. similar volumes coming through as this week but demand is still soft in many markets. Scottish prices are lower which could act as a drag on Norwegian pricing, but for now pricing seems to be coming through a little stronger. Expect the index around mid 82 levels.

Volumes

Volume figures for week 23 (2024) were 16,605 tons. Volumes in week 24 2023 were 17,359 and for the coming week 25, 16,792 tons to give some comparison guidance.

Historical Price Guidance

A year ago, Week 25 2023 prices ended up 2.03 NOK on the week at 89.36 NOK a rise of 2.32%. The EURNOK rate was higher at 11.59.

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

Did You Know?

Odd Lots – what does it mean, and can I trade them?

Odd Lots, or smaller orders and unusual one-off transactions are often the result of a surprise demand that needs to be facilitated by a buyer, or a smaller excess inventory from a seller. The use of a platform is ideal in this scenario allowing both sides to broadcast their Odd Lot requirement to multiple counterparties quickly and easily, and to source and mop up the requirement. It means the system can take the strain as opposed to chasing around for ultimately a low volume order.

FAQ’s

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