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Norway salmon price seen rising to NOK 64-65 per kilo next week -sources
April 7, 2017 / 12:18 PM / 7 months ago

Norway salmon price seen rising to NOK 64-65 per kilo next week -sources

OSLO, April 7 (Reuters) - The average price of Norwegian farmed salmon is expected to rise by 2-3 crowns to 64-65 Norwegian crowns per kilo for deliveries in Oslo next week, sources in the fish farming industry told Reuters on Friday.

“Salmon prices are rising because of fewer working days in Norway. The market doesn’t accept these prices but exporters still need fish to comply with delivery commitments,” said a producer who declined to be named.

“We expect 65 crowns next week compared to 62 crowns this week,” the producer added.

An exporter also confirmed prices were rising as available volumes fall due to the Easter holiday.

“We are talking about 64-65 crowns per kilo in Oslo next week, up a couple of crowns from this week,” the exporter said.

Prices have fallen from around 80 crowns per kilo in early January but 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 Salmon. (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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