May 11, 2018 / 12:33 PM / a year ago

Norwegian salmon price seen in range NOK 76-79 next week -sources

OSLO, May 11 (Reuters) - The price of Norwegian farmed salmon is expected in a range of 76-79 crowns per kilo for deliveries in Oslo next week, industry sources told Reuters on Friday.

This week, prices were initially expected to rise up 3 crowns to 77-78 crowns.

“Prices are steady, close to 80 crowns. Next week, I think it will be about 79 crowns,” said one producer, who declined to be named.

An exporter said he saw a wide price range.

“Prices vary from 72 to 80 crowns. On average, I would say it is about 76 crowns,” said the exporter, who also declined to be named.

Several bank holidays in Norway this month have cut the volume of harvested salmon and helped push prices to near record highs.

The producer and the exporter expected prices to slow down towards the end of May and into June, when production was expected to rise.

In late January, the price of salmon stood at around 50 crowns per kilo, on fears of strong supply growth, but a cold Norwegian winter has since resulted in slower growth in fish stocks, giving a new price spike.

Norway is the world’s top salmon exporter, with fish farming the Nordic country’s second-largest export industry after oil and gas production. The share price of listed farming companies depends heavily on changes in the price of fish.

Average production costs for whole fish, including the cost of harvesting, rose by 13 percent to 34.29 crowns per kilo in 2016, according to data from the Norwegian Directorate of Fisheries.

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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