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Last Trade - 07/05/21

Sector
Consumer Defensives
Size
Large Cap
Market Cap £3.53bn
Enterprise Value £3.80bn
Revenue £529.9m
Position in Universe 163rd / 1832

Norwegian salmon price seen surging to NOK 71-72 next week -sources

Fri 27th April, 2018 12:58pm
OSLO, April 27 (Reuters) - The price of Norwegian farmed
salmon is expected to rise by up to five crowns to a range of
71-72 crowns per kilo for deliveries in Oslo next week after
three weeks of decline, industry sources told Reuters on Friday.
    "Prices are definitely rising, maybe by as much as five
crowns due to smaller harvest volumes with one less working day
next week," said a producer who declined to be named.
    A salmon exporter confirmed the development, and said the
increase was as expected for this time of the year.
    "Prices usually increase in May, before a seasonally weaker
June," he said, adding that he expected the level to remain
around 70 crowns during May.
    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, sending prices to 75 crowns around Easter.
    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 Camilla Knudsen, editing by Terje Solsvik)
 ((camilla.knudsen@thomsonreuters.com; +47 2331 6595; Reuters
Messaging: camilla.knudsen.thomsonreuters.com@reuters.net))
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