March 9, 2018 / 1:08 PM / in 7 months

Norwegian salmon price seen stable at NOK 69-72/kg next week -sources

OSLO, March 9 (Reuters) - The price of Norwegian farmed salmon is expected to remain around 69-72 crowns per kilo for Oslo delivery next week, due to limited harvesting, but may decline in the coming weeks, industry sources told Reuters on Friday.

“There will certainly be a price correction, but it is hard to say exactly when,” said a producer who declined to be named.

A fish exporter said the market was already hesitant after prices rose from around 50 crowns per kilo in late January.

“In the long run, prices above 70 crowns are too difficult,” he added.

Salmon prices peaked at around 80 crowns per kilo in early January of 2017 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 Camilla Knudsen, editing by Terje Solsvik

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