OSLO May 5 The price of Norwegian farmed salmon
for delivery next week is surging by an estimated 6-10 crowns,
to a range of 70-74 crowns per kilo, sources in the fish farming
industry told Reuters on Friday.
In the current week, prices for delivery in Oslo have risen
by 2-3 crowns to 64-65 crowns per kilo, in line with forecasts
made last Friday.
"Prices are surging and are at around 73-74 crowns per kilo
(for next week)," said a salmon producer who declined to be
"It has been supported by limited availability of fish and a
weaker Norwegian crown. Exporters are pushing up prices to meet
their obligations," the producer said.
A fish exporter said he too expected prices to rise, albeit
to a slightly more moderate 70-72 crowns per kilo.
"There has been a shortage of fish since Wednesday. This
will continue into next week and then we probably will have more
fish at the end of the week," he added.
The exporter said the increase was too big to be sustained
and that he expected prices to ease somewhat.
Prices peaked at around 80 crowns per kilo in early January
before dropping to 50 crowns, but have since rallied again.
Industry earnings margins are still high by historical
standards, despite a sharp rise in production costs in Norway in
recent years to around 32-33 crowns per kilo.
Supply constraints are expected to support prices in the
first half of 2017 before an expected increase in volumes later
in the year, fish farmers including Marine Harvest, Leroey
Seafood and Salmar recently said.
Norway is the world's top salmon exporter, with leading
producers including Marine Harvest, Salmar,
Leroy Seafood, Grieg Seafood and Norway Royal
(Reporting by Ole Petter Skonnord, editing by Terje Solsvik)