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Norway salmon price seen down 3-5 crowns in coming week -industry sources
June 30, 2017 / 12:02 PM / 5 months ago

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

OSLO, June 30 (Reuters) - The price of Norwegian farmed salmon is expected to drop three to five crowns per kilo to around 65 crowns for deliveries in Oslo next week, industry sources told Reuters on Friday.

This week prices were around 68-69 crowns as expected, slightly down from the previous week.

“Prices are down 3-4 crowns and we expect around 65 crowns in Oslo next week. It’s quiet and probably volumes are rising,” said one exporter, who declined to be named.

One producer, also unnamed, said it was difficult to predict prices due to very limited trading.

“It seems prices are dropping a bit. A lot of fixed business is done but not that much in the spot market. Prices could be down 3-5 crowns,” the exporter said.

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

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 Ole Petter Skonnord, editing by Gwladys Fouche)

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