January 26, 2018 / 1:33 PM / a year ago

Price of Norwegian farmed salmon seen at NOK 52-54/kilo next week

OSLO, Jan 26 (Reuters) - The price of Norway’s farmed salmon is expected to be in the range 52-54 crowns per kilo for deliveries in Oslo next week, little changed from the current week, industry sources told Reuters on Friday.

Prices in the current week ranged from 53-55 crowns, somewhat better than the initially expected 53 crowns.

“Prices in Oslo are stable at around 53-54 crowns next week,” one producer who declined to be named told Reuters.

“It’s OK, though some pressure down on the big fish,” he added.

An exporter expected prices to drop somewhat.

“Prices are down a couple of crowns to around 52-53 crowns in Oslo compared to 55 in the current week,” he said.

“It’s been quite balanced but I am a bit concerned because our customers are building stocks while final consumption is low,” the exporter 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.

Production growth from Norway is expected to be around 9 percent in 2018, the Norwegian Seafood Council predicted in early January.

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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