December 15, 2017 / 1:25 PM / 3 months ago

Price of Norwegian farmed salmon seen near stable at NOK 50-52 next week

OSLO, Dec 15 (Reuters) - The price of Norway’s farmed salmon is expected to remain largely stable at 50-52 Norwegian crowns per kilo for deliveries in Oslo next week, industry sources told Reuters on Friday.

For the current week, prices had initially been expected to fall to 45 crowns, but in the end turned out somewhat higher at around 50-51 crowns.

Final prices for the current week will be settled on Tuesday of next week at the Nasdaq Salmon bourse.

“We expect 50-51 crowns in Oslo on average next week. Demand has been good before Christmas,” said an exporter who declined to be named, while adding that prices could ease towards the end of the week as the holiday season starts.

A salmon producer meanwhile expected a slight rise in prices.

“There is a wait-and-see attitude but we expect about 52 crowns in Oslo. The current week was better than we expected,” the producer said.

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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