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Norway salmon price seen around NOK 62-63 next week -sources
February 3, 2017 / 2:01 PM / 10 months ago

Norway salmon price seen around NOK 62-63 next week -sources

OSLO, Feb 3 (Reuters) - The average price of Norwegian farmed salmon is seen at around 62-63 crowns for deliveries next week compared to a range of 62-65 crowns in the current week, industry sources told Reuters on Friday.

Since early January, prices have fallen from around 80 crowns per kilo.

“Volumes are small and there is great uncertainty, but we suppose 62-63 crowns per kilo for deliveries in Oslo, which is down one or two crowns from the current week,” said one producer who declined to be named.

An exporter confirmed prices were at this level.

“The market is difficult and there is a lot of big fish available. We have paid 62 crowns (per kilo) for salmon weighing three to four kilos and 63 crowns for fish of four to five kilos and bigger,” he said, adding that European customers remain reluctant to buy even at the current price levels.

Production costs in Norway have risen sharply in recent years to around 30-31 crowns per kilo on average.

Norway is the world’s top salmon exporter, with leading producers including Marine Harvest, Salmar, Leroy Seafood, Grieg Seafood and Norway Royal Salmon.

Companies and analysts have predicted that salmon supply from Norway and globally will increase by around three percent in 2017 after a drop of 6-7 percent in 2016 due to declining production in Norway as well as in Chile, the world’s second largest producer. (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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