July 21, 2017 / 12:07 PM / a year ago

Norway salmon price seen dropping to NOK 58-62/kg next week -industry sources

OSLO, July 21 (Reuters) - The price of Norwegian farmed salmon is expected to drop next week to 58-62 crowns per kilo for deliveries in Oslo, down from around 64-65 crowns in the current week, industry sources told Reuters on Friday. “Trading has been limited so far but prices are falling, it seems to be around 58-60 crowns per kilo in Oslo. Volumes are rising while Europe is going on holiday,” one producer who declined to be named said.

An exporter, who also declined to be named, expected prices to drop as well, but by a smaller margin.

“We are at about 62 crowns in Oslo for 3-6 kilos salmon,” the exporter said, adding that this would be the average as well.

“We can’t rule out prices are dropping more at the end of next week,” the exporter said.

Prices peaked at around 80 crowns per kilo in early January before dropping to 50 crowns, but have since recovered.

Norway is the world’s top salmon exporter, and the share price of listed farming companies depends heavily on changes in the price of fish.

Production costs are at around 32-33 crowns per kilo.

Supply constraints supported prices in the first half of 2017, ahead of an expected increase in volumes later in the year.

Leading Norwegian producers include Marine Harvest, Salmar, Leroy Seafood, Grieg Seafood and Norway Royal Salmon. (Reporting by Ole Petter Skonnord, editing by Gwladys Fouche)

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