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Norway salmon price seen rising to 68-69 crowns in coming week -industry sources
June 16, 2017 / 12:00 PM / 5 months ago

Norway salmon price seen rising to 68-69 crowns in coming week -industry sources

OSLO, June 16 (Reuters) - The price of Norwegian farmed salmon is expected to rise slightly next week to around 68-69 crowns per kilo for deliveries in Oslo, a fish trader and a salmon producer told Reuters on Friday.

“It’s a small increase, we are going up from 67-68 to 69 crowns,” one producer who declined to be named told Reuters.

A fish exporter also expected prices to increase.

“Some players started at 70 crowns but that was too high. Prices are currently at 68 crowns for next week, up 1 crown,” the exporter said.

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. (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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