January 5, 2018 / 1:14 PM / 15 days ago

Price of Norwegian farmed salmon seen down to NOK 50-53 next week

OSLO, Jan 5 (Reuters) - The price of Norway’s farmed salmon is expected to drop to a range of 50-53 crowns per kilo next week for deliveries in Oslo from 54-55 in the current week as output begins to rise, industry sources told Reuters on Friday.

The decline follows two weeks of rising prices during the peak Christmas season.

“Prices are dropping, probably down towards 50 crowns,” said a fish exporter, who declined to be named.

A salmon producer expected a slightly smaller drop in prices.

“It’s quiet but it seems we will have prices at around 52-53 crowns next week,” he said.

“Production has recovered after Christmas,” he added.

Final prices for the current week are settled on the Nasdaq Salmon bourse on Tuesday next week.

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 Ole Petter Skonnord, editing by Terje Solsvik)

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