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Last Trade - 07/05/21

Sector
Consumer Defensives
Size
Large Cap
Market Cap £3.49bn
Enterprise Value £3.76bn
Revenue £528.7m
Position in Universe 163rd / 1832

Price of Norwegian farmed salmon seen rising to NOK 53/kilo next week

Fri 19th January, 2018 1:11pm
OSLO, Jan 19 (Reuters) - The price of Norway's farmed salmon 
is expected to rebound by around 3 crowns to 53 Norwegian crowns 
per kilo next week for deliveries in Oslo, industry sources told 
Reuters on Friday. 
    "Storms on the coast have led to some cancellations and 
lower supply, pushing prices up to 52-53 crowns next week from 
50 this week. But we think this is short lived," said a producer 
who declined to be named. 
    Prices were initially expected to drop below 50 crowns in 
the current week but came in somewhat higher due to rough 
weather conditions. 
    An exporter confirmed the price was set to rise to 53 
crowns, adding that it may well drop back down again when the 
supply chain returns to full production. 
    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 
    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) 
 ((olepetter.skonnord@thomsonreuters.com; +47 952 79 474; 
Reuters Messaging: 
olepetter.skonnord.thomsonreuters.com@reuters.net)) 
 
Keywords: NORWAY SALMON/
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