January 7, 2019 / 2:48 PM / 16 days ago

Norway's 2019 salmon output seen up 3 pct, price set to rise -council

OSLO, Jan 7 (Reuters) - Norway’s output of farmed salmon is expected to rise by 3 percent in 2019 from 2018, while global salmon production is forecast to rise by around 4 percent, Norway’s state-owned Seafood Council said on Monday.

Salmon farming is Norway’s second largest export industry after oil and gas, and even small changes in output and prices move the share prices of top producers, including world number one Mowi, previously known as Marine Harvest.

The output predictions were based on data from forecaster Kontali, Seafood Council analyst Ingrid Kristine Pettersen added.

The council’s own models show the average price of Norwegian salmon will probably rise to about 62.7 Norwegian crowns ($7.32) per kilo in 2019 from 60.73 crowns in 2018, she added.

The price, as measured in Norwegian crowns, remains subject to exchange rate volatility, and did not take into account any potential changes in Russia’s import ban on Norwegian salmon or changes in Chinese import restrictions.

In 2018 the value of Norwegian seafood exports rose by five percent to a record 99 billion Norwegian crowns, two thirds of which was made up of salmon. ($1 = 8.5659 Norwegian crowns) (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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