April 28, 2017 / 12:30 PM / 2 years ago

Norway salmon price seen rising to NOK 64-65 per kilo next week

OSLO, April 28 (Reuters) - The average price of Norwegian farmed salmon is expected to rise by 2-3 crowns to 64-65 crowns per kilo for deliveries in Oslo next week, sources in the fish farming industry told Reuters on Friday.

Salmon prices were in the range of 62-63 crowns per kilo this week, compared to last Friday’s expectations of 60-64 crowns.

“Prices are up 3 crowns to 65 crowns per kilo. Monday is closed (due to holiday) and there are somewhat lower production next week,” one exporter, who declined to be named, told Reuters.

A producer, who also declined to be named, confirmed prices were rising.

“We are at about 64-65 crowns in Oslo next week, up from 62-63 crowns this week,” the producer said.

“The positive mood and order books are filled up after the seafood conference in Brussels this week,” he added.

Prices have fallen from around 80 crowns per kilo in early January but industry earnings margins are still high by historical standards, despite a sharp rise in production costs in Norway in recent years to 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, fish farmers including Marine Harvest, Leroey Seafood and Salmar recently said.

Norway is the world’s top salmon exporter, with leading producers including Marine Harvest, Salmar, Leroy Seafood, Grieg Seafood and Norway Royal Salmon. (Reporting by Ole Petter Skonnord, editing by Camilla Knudsen)

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