LFEX European Aquaculture Snapshot to 18th January, 2024

John Ersser - The London Fish Exchange

Published: 19th January 2024

This Article was Written by: John Ersser

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The LFEX Norwegian Exporters Index for Week 3 2024 ended the week up +4.76%, +4.5 NOK to stand at 99.0 NOK (in EUR terms 8.65 / +0.31 / +3.66%) FCA Oslo Week ending Thursday vs previous Thursday.

The NOK rate ended up at 11.44 to the Euro over the period Thursday to Thursday +0.12 NOK or +1.06%. The Fish Pool future January was reported down -0.90 NOK, -0.84% at 106.1 NOK.

The market reset pricing levels this week with a difficult to gauge Friday where prices started around 95.6 NOK after the trashing the week before as the market opened up 1.1 NOK. A gentle appreciation followed for the week as prices ticked up Monday 97.34, Tuesday peak at 99.8 and Wednesday and Thursday stable at 98.98 and 99.0. The spread between smaller 3-4’s to 5-6’s remains significant at 27 NOK with the larger fish lifting the index average.

Tricky times next week as well. Fish quality is a problem with a lot of production grade fish not making its out of Norway (winter wounds / lesions / jelly fish etc) puts a squeeze on supply of superior fish. This is the opportunity for suppliers to up prices, especially if they are licking their wounds from week 2, but buyers are sitting on their hands at the prices being offered. Index indications around 106 offered.

Volumes for week 2 were up at 16,016 vs 12,105 in week 1. (Week 2 2023 showed 15,402 by comparison).

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

  Market Data (Click Each to Expand)

LFEX Prices
FX Rates
LFEX Indicative Exporter Prices (4 Week)
EUR / NOK FX Rate (4 Week)

Prices Ending 18th January, 2024

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