The London Fish Exchange

LFEX European Aquaculture Snapshot to 25th October, 2024

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The LFEX Norwegian Exporters Index for Week 43 2024 ended the week up +0.61 NOK / +0.81% to stand at 75.57 NOK (in EUR terms 6.40 / + 0.09 / +1.41%) FCA Oslo Week ending Thursday vs previous Thursday.

The NOK rate ended lower at 11.805 to the Euro over the period Thursday to Thursday -0.07 NOK or -0.59%. The Fish Pool future October was reported up Thursday to Thursday +1.00 NOK / +1.39% at 73.0 NOK with November showing 81 NOK.

The Last Week

Last week, same as the week prior we saw a significant jump in prices on market open Friday after a flat overall movement in the previous week. The index opened at a level of 76.86 NOK, a 1.9 NOK / 2.53% gain on the Thursday close for deliveries in week 43. From there it was a near repeat performance trend wise from the prior week. Monday held at 76.93, Tuesday lower marginally at 76.53, followed by a reducing on Wednesday at 76.01 and the close out at the low of the week at 75.57. The make up of the index was slightly different as the 5/6’s remained pretty flat at high 79’s, midsized brough the index lower at the end of the week with the smaller size up, down and plateauing around 71.4 offered.

Spreads widened a little and ended the week around 8.00 NOK between 3-4s and 5-6s after a small compression early on as the smaller fish moved up.

The EURNOK FX pair opened on Friday down at 11.79, trended upwards to 11.84 by midweek before closing where is started.

Next Week

Early pricing indications from sellers for week 44 are in a good range, and coming in overall flat at a level around 75.5 NOK. A sense that there is a reasonable balance in the market at the moment as prices provide a continuation from this current week.

Volumes – Fresh Export

Volume figures for week 42 (2024) was 25,561 tons as compared to 24,609 in 2023. Volumes for weeks 43 and 44 (2023) were 26,459 and 24,437 respectively for comparison.

Historical Price Guidance for Next Week.

The LFEX Norwegian Exporters Index for Week 44 2023 ended the week up +2.48%, +1.92 NOK to stand at 79.26 NOK (approximately 6.68 EUR) FCA Oslo. The NOK rate was 11.87 and Fish Pool future November was reported at 79.0 NOK.

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

Did You Know?

You can place orders or RFQ’s on the system for an hour, a week, 2 weeks or longer, or any time period you want, allowing you to match your orders with your business demands.

It also means you can, for example, put up offers for available frozen inventory, and update those prices as often as you want to making it a great way to manage and control inventory over a period of time, and always having some stock in the market.

FAQ’s

Q. Once I have put up a request, can this be changed?

A. Of course. The system allows huge flexibility as you would expect from a professional trading platform. This could be modifying your volume because you have filled some requirement, to adding / modifying prices, cancel offers, suspend them or cancel the whole request are just some of the features available.