July 6, 2018 / 12:37 PM / 10 months ago

Price of Norwegian salmon seen falling next week

OSLO, July 6 (Reuters) - The price of farmed Norwegian salmon is set to fall next week as volume increases, industry sources told Reuters on Friday.

While spot prices for this week averaged around 57 Norwegian crowns ($7.08) per kilo for delivery in Oslo, they are set to range between from 50 to 52 crowns next week, with large variations for the different sizes of fish, producers and exporters said.

Prices for this week had initially been expected to come in at 57-63 crowns per kilo, but ended a little lower, said the sources, who declined to be named.

Volumes are normally declining as Norway enters the July holiday season, but this week’s supply was bigger than expected, pressuring prices down, they added.

Norway is the world’s top salmon producer, with fish farming the country’s second-largest export industry after oil and gas. The share price of listed farming companies depends heavily on changes in the price of fish.

Leading Norwegian producers include Marine Harvest, Salmar, Leroy Seafood, Grieg Seafood and Norway Royal Salmon. ($1 = 8.0526 Norwegian crowns) (Reporting by Camilla Knudsen, editing by Gwladys Fouche)

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