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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

Price of Norwegian farmed salmon seen rising to near NOK 50 next week

Fri 1st December, 2017 1:25pm
OSLO, Dec 1 (Reuters) - The price of Norway's farmed salmon 
is expected to recover to a level near 50 Norwegian crowns per 
kilo next week for deliveries in Oslo, up from a about 45 crowns 
in the current week, industry sources told Reuters on Friday. 
    "We expect close to 50 crowns per kilo for deliveries in 
Oslo," said an exporter who declined to be named. 
    Prices for the current week were initially expected to drop 
to a two-year low of 40-42 crowns per kilo, but in the end look 
set to come in at around 45-46 crowns as demand began to 
recover. 
    Final prices for the current week are settled on Tuesday 
next week at the Nasdaq Salmon bourse. 
    "When prices fell, demand rose, it wasn't as bad as we 
thought," the exporter said. 
    A salmon producer confirmed prices were rising, while adding 
that uncertainty prevailed over how strong the market was. 
    "Some offer salmon at 50 crowns or even higher but we are 
not there," he said. 
    Prices were also affected by expectations of a seasonal 
upswing ahead of the Christmas season, which normally sees peak 
demand. 
    Salmon traded at around 80 crowns per kilo in early January 
at a time when supply constraints supported prices, but have 
since fallen as volumes grew.  
    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, Salmar 
 SALM.OL , Leroy Seafood, Grieg Seafood  GSFO.OL  and Norway 
Royal Salmon  NRSM.OL . 
 
 (Reporting by Ole Petter Skonnord, editing by Terje Solsvik) 
 ((olepetter.skonnord@thomsonreuters.com; 0047 23 31 65 97;)) 
 
Keywords: NORWAY SALMON/
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