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Norway salmon price seen recovering to NOK 65-67 -industry sources
July 14, 2017 / 12:27 PM / 6 months ago

Norway salmon price seen recovering to NOK 65-67 -industry sources

OSLO, July 14 (Reuters) - The price of Norwegian farmed salmon is expected to rise next week to 65-67 crowns per kilo for deliveries in Oslo, up from around 61 crowns in the current week, industry sources told Reuters on Friday.

“Three-to-four kilo salmon stand at 65-66 crowns per kilo, 4-5 kilo salmon at 66-67 crowns, 5-6 kilo salmon at 68.5 and 6 kilo salmon and bigger are a bit higher than 70 crowns,” one exporter, who declined be named, told Reuters.

On average he estimated around 67 crowns per kilo.

A salmon producer expected a somewhat smaller increase in prices.

“We expect 65 crowns. This week was sold out pretty early. It’s lower volumes and that is pushing prices,” the producer added.

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. July is a seasonally slow month in terms of output, and more volumes are expected from August.

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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