P/F Bakkafrost logo

BAKKAo - P/F Bakkafrost News Story

NOK695 -36.2  -5.0%

Last Trade - 5:00pm

Sector
Consumer Defensives
Size
Large Cap
Market Cap £3.46bn
Enterprise Value £3.73bn
Revenue £528.7m
Position in Universe 165th / 1828

Norwegian salmon price seen down 10 crowns to NOK 58-60/kg next week -sources

Fri 16th March, 2018 1:06pm
OSLO, March 16 (Reuters) - The price of Norwegian farmed
salmon is expected to fall by 10  crowns to around 58-60 crowns
per kilo for delivery in Oslo next week, due to more harvesting,
industry sources told Reuters on Friday.
    "We expect around 58-60 crowns per kilo, it's down 10 crowns
from the current week and for all sizes. Volumes are up 3,000
tonnes," said one exporter who declined to be named.
    He added that a price of around 70 crowns in the current
week in general was too high.
    "If we have prices between 55-60 crowns then we could have a
good flow in the market," the exporter said.
    A producer confirmed prices were falling sharply, while
adding the market had seen only been limited trade so far on
Friday.
    "We have not done any trades yet, some players want a price
below 60 crowns while the producers want above 60 crowns. It's
for sure down 10 crowns to plus/minus 60 crowns," the producer
said.
    He explained the price drop partly by more volume from two
of the biggest producers. 
    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. In late January this year prices were close to
50 crowns per kilo.
    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  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))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.