November 10, 2017 / 1:14 PM / a year ago

REFILE-Price of Norwegian farmed salmon seen rebounding to 50-51 crowns next week

(Fixes headline)

OSLO, Nov 10 (Reuters) - The price of Norwegian farmed salmon is expected to recover next week to about 50-51 crowns per kilo, up from two-year lows set this week, due to lower supply, industry sources told Reuters on Friday.

“Prices are rising to around 50 crowns in Oslo. It’s less volume,” one producer, who declined to be named told Reuters.

An exporter, who also declined to be named, said he paid 50 crowns to producer and sold it for 51 crowns in Oslo for export.

“Producers are slaughtering less fish, probably around 3,000 tonnes compared with volumes (slaughtered) this week,” the exporter said.

Both expected volumes to increase in December.

Salmon prices peaked at around 80 crowns per kilo in early January at a time when supply constraints supported prices, but have since fallen as volumes grew.

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.

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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