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Norway salmon price seen at 62-64 crowns next week -industry sources
March 17, 2017 / 1:27 PM / 6 months ago

Norway salmon price seen at 62-64 crowns next week -industry sources

OSLO, March 17 (Reuters) - The average price of Norwegian farmed salmon is expected to edge up to 62-64 crowns per kilo for deliveries in Oslo next week, industry sources told Reuters on Friday.

In the current week, prices were expected to rise to 60-63 crowns from below 60 crowns last week.

“Prices are around 62-63 crowns next week, it’s flat or slightly up,” said a producer who declined to be named.

An exporter said he saw prices at around 63-64 crowns, adding that there had been a slight increase during the current week.

“We believe there is significantly more fish slaughtered than what’s sold to processing and consumers. We know that many producers are freezing the fish to avoid a price drop and have more regular deliveries,” the exporter said.

Prices have fallen from around 80 crowns per kilo in early January. Earnings margins are still high by historical standards, despite a sharp rise in production costs in Norway in recent years to around 32-33 crowns per kilo.

Supply constraints are expected to support prices in the first half of 2017 before an expected increase in volumes later in the year, fish farmers including Marine Harvest, Leroey Seafood and Salmar recently said.

Norway is the world’s top salmon exporter, with leading producers including Marine Harvest, Salmar, Leroy Seafood, Grieg Seafood and Norway Royal Salmon. (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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