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Norway salmon price seen ranging from flat to up 2 crowns next week
October 14, 2016 / 12:28 PM / a year ago

Norway salmon price seen ranging from flat to up 2 crowns next week

OSLO, Oct 14 (Reuters) - The average price of Norwegian farmed salmon is expected to change less in the coming week than has been the case recently, industry sources told Reuters on Friday.

A salmon producer predicted the price per kilo could rise by up to two crowns, while a fish exporter said the outlook was more likely for unchanged prices around the 62 crowns obtained in the current week.

Prices have risen for three consecutive weeks, from just over 50 crowns per kilo in mid-September.

“Prices are up by a couple of crowns and I suppose they will show 63-64 crowns per kilo next week for deliveries in Oslo,” one producer, who declined to named, told Reuters.

The exporter meanwhile said he expected prices to remain at 62 crowns on average.

“The market is strong, the competition among exporters is keeping prices high,” he added.

Prices have been volatile so far in 2016 and hit a record in July above 80 crowns per kilo as supply fell while demand rose. Prices then proceeded to fall to a level just above 50 crowns before rising again.

Production costs in Norway have risen sharply in recent years to around 30-31 crowns per kilo on average.

Norway is the world’s top salmon exporter, with leading producers including Marine Harvest, Salmar, Leroy Seafood, Grieg Seafood and Norway Royal Salmon.

Companies and analysts have predicted that the global supply of salmon will fall by 6-7 percent in 2016 due to declining production in Norway as well as in Chile, the world’s second largest producer. (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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