January 4, 2019 / 1:53 PM / 2 months ago

Norway salmon price seen falling on more output

OSLO, Jan 4 (Reuters) - The price of Norwegian farmed salmon is expected to drop next week due to increasing output after the Christmas and New Year holidays, two industry sources told Reuters on Friday.

“It’s uncertain. The market believes in prices between 55-60 crowns per kilo next week while producers aim for 60-65 crowns,” said a producer who declined to be named.

Salmon prices this week have averaged about 63-64 crowns per kilo, pushed up by a low number of working days during the holiday season.

One exporter expected a drop below 60 crowns per kilo.

“We expect prices to drop about 5 crowns to about 58-59 crowns per kilo. It’s very quiet in the market and still a lot of trucks with unsold salmon in Oslo for this week,” the exporter said.

In the forward market, contracts up to 2020 — except for the third-quarter 2019 contract — were still quoted above 60 crowns per kilo.

The January contract stood at 64.50 crowns per kilo. (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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