The London Fish Exchange

LFEX European Aquaculture Snapshot to 24th April, 2025

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The LFEX Norwegian Exporters Index for Week 17 2025 ended the week DOWN -15.93 NOK / -16.56% to stand at 80.24 NOK (in EUR terms 6.78 / -1.18 / -14.84%) FCA Oslo Week ending Thursday vs previous Wednesday.

The NOK rate ended DOWN at 11.835 to the Euro over the period prior Wednesday to Thursday. The Fish Pool Euronext future May was reported FLAT prior Wednesday to Thursday at 7.10 EUR, approximately 84.00 NOK with June showing 7.50.

The Last Week

A short trading week with the market closed from prior Thursday to Tuesday. The pre-Easter market closed out at 96.17 already softening from the 100NOK high earlier that week. First day trading saw 90.98 NOK, a drop of around 5 to kick the week off, and probably not unsurprisingly the market was softer again on Wednesday at 87.48. Thursday saw a further considerable drop off to a calculated offered level at 80.24, a level we hadn’t seen since 8th April, but the reality is that fish was going through for less than this. A lot more fish being available and this is pushing down prices considerably.

Total spreads sit around the 2 NOK level between 3/4s and 5/6 sizes.

Next Week

Indications this week see the index opening around 71.5 NOK as offered prices come down another 9 NOK since yesterday. There is a lot of fish of good quality coming through, biomass is at high levels by historic comparison and the fish have been doing well – both size and quality. A lot of big fish 5+ available. Europe has some holidays thrown in as well putting further pressure on downward pricing.

EUR NOK FX rate remains flat at 11.83. This would give an indicative Euro index price around 5.99 on levels later Friday.

Volumes – Fresh Export

Volume figure for week 16 (2025) was 13,620 tons up 1,854 as compared to 11,766 in 2024. Volumes for week 17 and week 18 (2024) were 12,923 and 11,511 respectively for comparison.

Historical Price Guidance for Next Week

The LFEX Norwegian Exporters Index for Week 18 2024 ended the week up +6.43%, +7.64 NOK to stand at 126.47 NOK (in EUR terms 10.69) FCA Oslo. The NOK rate ended up at 11.83. The Fish Pool future May was reported up +2.25, +1.92% at 119.25 NOK.

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

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