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Last Trade - 07/05/21

Sector
Consumer Defensives
Size
Large Cap
Market Cap £3.68bn
Enterprise Value £3.93bn
Revenue £537.4m
Position in Universe 163rd / 1835

Norwegian salmon price seen up NOK 10 to NOK 72-76/kg next week -sources

Fri 23rd March, 2018 1:41pm
OSLO, March 23 (Reuters) - The price of Norwegian farmed
salmon is expected to rise by around 10 crowns to 72-76 crowns
per kilo for delivery in Oslo next week due to less harvesting,
industry sources told Reuters on Friday.
    Prices this week were initially expected to drop 10 crowns
to a range of 58-60 crowns per kilo, but came out somewhat
higher after a rise at the end of the week which is expected to
continue next week.
    "Prices are rising to between 72-75 crowns from around 62
crowns this week," one exporter, who declined to be named, told
Reuters.
    "Its less fish but its difficult to understand the market at
the moment," he added. 
    One producer confirmed the price rise.
    "Prices are at around 75-76 crowns in Oslo. Next week is
shorter due to the Easter holiday and volumes are significantly
down. And some people have to buy to keep their commitments," a
producer said, who also declined to be named.
    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 Gwladys Fouche)
 ((camilla.knudsen@thomsonreuters.com; +47 2331 6595; Reuters
Messaging: camilla.knudsen.thomsonreuters.com@reuters.net))
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