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Norway salmon price seen down 3-5 crowns in coming week -industry sources
June 9, 2017 / 11:50 AM / 6 months ago

Norway salmon price seen down 3-5 crowns in coming week -industry sources

OSLO, June 9 (Reuters) - The price of Norwegian farmed salmon is expected to fall by 3-5 Norwegian crowns per kilo next week from currently 70-73 crowns, a fish trader and a salmon producer told Reuters on Friday.

“Prices are down around five crowns to 65-66 crowns per kilo, and some are talking about even lower prices,” said an exporter who declined to be named.

“There is more fish coming into the market and buyers are more hesitant after the recent rise to unsustainable levels,” he explained.

In the coming weeks he expected prices to decrease gradually, before an uptick in July, and then to fall further to around 50 crowns later in the year when volumes will likely increase.

A salmon producer predicted a somewhat smaller decline of 3-4 crowns per kilo to “just below 70 crowns”.

Prices peaked at around 80 crowns per kilo in early January before dropping to 50 crowns, but have since rallied.

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.

Production costs are at 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.

Leading Norwegian producers include Marine Harvest, Salmar, Leroy Seafood, Grieg Seafood and Norway Royal Salmon. (Reporting by Camilla Knudsen, editing by Terje Solsvik)

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