June 2, 2017 / 12:11 PM / 8 months ago

Norway salmon price seen rising to 70-71 crowns in coming week -industry sources

OSLO, June 2 (Reuters) - The price of Norwegian farmed salmon is expected to rebound to 70-71 Norwegian crowns per kilo next week from a mid-60s level in the current week, a fish trader and a salmon producer told Reuters on Friday.

“We are at about 70 Norwegian crowns ($8.26) per kilo in Oslo. Prices for salmon of 3-4 kilos are somewhat less, while 6-kilo fish and bigger are higher,” said an exporter who declined to be named.

A salmon producer meanwhile predicted prices in a range of 70-71 crowns.

“Sales have been very good this week, and next week there is one less production day due to the public holiday on Monday,” the producer said.

Prices in the current week stood at around 65 crowns after falling sharply from 77-78 crowns last week.

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

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 are expected to support prices in the first half of 2017 before an expected increase in volumes later in the year.

Leading Norwegian producers include Marine Harvest, Salmar, Leroy Seafood, Grieg Seafood and Norway Royal Salmon. ($1 = 8.4701 Norwegian crowns) (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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