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Market Cap £3.53bn
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Position in Universe 163rd / 1832

Norwegian salmon price remains around NOK 74-75 in current week -sources

Tue 3rd April, 2018 11:35am
OSLO, April 3 (Reuters) - The price of Norwegian farmed
salmon remains at around 74-75 crowns per kilo in the current
week, industry sources told Reuters on Tuesday.
    Prices have recovered from around 50 crowns in late January
due to a seasonal upswing at Easter combined with fewer
production days and lower-than-expected supply growth in recent
    "Prices are at around 75 crowns per kilo early this week and
 somewhat lower later in the week, but still very high," said a
fish exporter who declined to be named.
    In the previous week prices were seen in the range 72-76
crowns per kilo.  urn:newsml:reuters.com:*:nL8N1R54I6
    "A lower ocean temperature has reduced the biomass. I think
prices (for 2018) could be higher than what we initially
thought," the exporter said.
    A second exporter said spot prices currently were around 74
crowns per kilo, supported by fewer production days during the
Easter holiday.
    The volume of salmon in cages at Norwegian fish farms, as
measured by weight, has come down to a growth of 3 percent
year-on-year in February, compared to 10 percent growth in
October last year, data from industry lobby group Seafood Norway
showed.  urn:newsml:reuters.com:*:nL8N1O00JO  urn:newsml:reuters.com:*:nL8N1RA1Y7
    "The temperature in the sea is very low, the fish has
currently very limited growth and its mostly maintenance
feeding," one of the exporter's said.
    Salmon prices peaked at around 80 crowns per kilo in early
January of 2017 at a time when supply constraints supported
prices, but have since been trending down on growing volumes in
volatile trade before a sharp recovery in the recent weeks.
    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
    Leading Norwegian producers include Marine Harvest  MHG.OL ,
Salmar  SALM.OL , Leroy Seafood  LSG.OL , Grieg Seafood
 GSFO.OL  and Norway Royal Salmon  NRSM.OL .

 (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)
 ((camilla.knudsen@thomsonreuters.com; +47 2331 6595; Reuters
Messaging: camilla.knudsen.thomsonreuters.com@reuters.net))
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