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Last Trade - 06/05/21

Sector
Consumer Defensives
Size
Large Cap
Market Cap £3.59bn
Enterprise Value £3.84bn
Revenue £540.2m
Position in Universe 163rd / 1831

Price of Norwegian farmed salmon seen rising further to NOK 65/kg next week

Fri 23rd February, 2018 1:07pm
OSLO, Feb 23 (Reuters) - The price of Norwegian farmed 
salmon is expected to rise  further to 64-65 crowns per kilo for 
deliveries in Oslo next week, up from about 60-61 crowns this 
week, industry sources told Reuters on Friday. 
    Prices this week were initially expected to rise 5-6 crowns 
to 57-59 crowns, but reached a somewhat higher level in the end. 
    "Prises next week are rising halfway to 70 crowns. There is 
less fish and some exporters need more fish to comply with their 
contracts", said one producer who declined to be named. 
    An exporter, who also declined to be named, confirmed the 
price rise. 
    "In Northern Norway we are at 63-64 crowns per kilo and 
about 64-65 crowns for deliveries in Oslo," said the exporter, 
who agreed that the lack of supply was pushing up prices. 
    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 fallen as volumes grew. 
    Production growth from Norway is expected to be around 9 
percent in 2018, the Norwegian Seafood Council predicted in 
early January.  urn:newsml:reuters.com:*:nL8N1P32Q4 
    Later on fish farmers have cut their expectations for growth 
 to somewhat less than that level. 
    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) 
 ((olepetter.skonnord@thomsonreuters.com; +47 952 79 474; 
Reuters Messaging: 
olepetter.skonnord.thomsonreuters.com@reuters.net)) 
 
Keywords: NORWAY SALMON/
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