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Norway salmon price seen stable around NOK 49-50 next week -sources
October 20, 2017 / 12:39 PM / 2 months ago

Norway salmon price seen stable around NOK 49-50 next week -sources

OSLO, Oct 20 (Reuters) - The price of Norwegian farmed salmon is expected to remain stable around 49-50 Norwegian crowns per kilo next week for deliveries in Oslo, industry sources told Reuters on Friday.

“It’s a quiet market and a wait-and-see attitude, but our view now is that prices will be at around 50 crowns next week,” said a salmon producer who declined to be named.

A fish exporter predicted a price of around 49 crowns per kilo for Oslo deliveries.

“We are struggling in the market as prices to consumers have risen due to the high (wholesale) salmon prices earlier this year. That is affecting sales negatively. It takes time before the drop in wholesale prices affects prices in the shop,” the exporter said.

Salmon prices peaked at around 80 crowns per kilo in early January at a time when supply constraints supported prices, but have since fallen as volumes grew.

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.

Average production costs for whole fish, including the cost of harvesting, rose by 13 percent to 34.29 crowns per kilo in 2016, according to data from the Norwegian Directorate of Fisheries.

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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