April 13, 2018 / 12:23 PM / in 6 months

Norwegian salmon price seen easing next week -sources

OSLO, April 13 (Reuters) - The price of Norwegian farmed salmon is expected to drop about two crowns to a range of 66-68 crowns per kilo for deliveries in Oslo next week, industry sources told Reuters on Friday.

“Prices are slightly down, somewhere between 65-70, I suppose 67-68 compared to 69 crowns in the current week,” said a producer who declined to be named.

A fish exporter also expected a fall.

“The market is down two crowns to 66 crowns,” he said.

In late January, the price of salmon stood at around 50 crowns per kilo, on fears of strong supply growth, but a cold Norwegian winter has since resulted in slower growth in fish stocks, sending prices to 75 crowns around Easter.

The smaller-than-expected supply growth may lead to higher prices in April and May, while June may see some relief for buyers, the exporter said.

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 (2017 data is not fixed).

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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