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Norway salmon price seen stable above NOK 55/kg next week -industry sources
August 4, 2017 / 12:12 PM / 4 months ago

Norway salmon price seen stable above NOK 55/kg next week -industry sources

OSLO, Aug 4 (Reuters) - The price of Norwegian farmed salmon is expected to remain just above 55 Norwegian crowns per kilo on average next week for deliveries in Oslo, but with large variations for different sizes, industry sources told Reuters on Friday.

“My best guess is a little above 55 crowns, which is more or less stable” from the current week, a producer who declined to be named told Reuters. “The market is still in a wait-and-see mode, with uncertainty about volumes.”

An exporter confirmed the outlook.

“It is too hard to give a good indication, but for the smallest fish we hear around 53-55 crowns, while larger sizes are going for 57-58 crowns and higher,” he said.

Salmon prices peaked at around 80 crowns per kilo in early January before dropping to a 2017 low around 50 crowns in March.

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 Camilla Knudsen, editing by Alister Doyle)

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