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Last Trade - 07/05/21

Sector
Consumer Defensives
Size
Large Cap
Market Cap £3.61bn
Enterprise Value £3.88bn
Revenue £528.3m
Position in Universe 161st / 1836

Price of Norwegian farmed salmon seen rising to NOK 57-59/kg next week

Fri 16th February, 2018 1:06pm
OSLO, Feb 16 (Reuters) - The price of Norwegian farmed 
salmon is expected to rise to a range of 57-59 crowns per kilo 
for deliveries in Oslo next week, up from about 52-53 crowns in 
the current week, industry sources told Reuters on Friday. 
    "Prices are rising, probably up 3-4 crowns to 57-58 crowns 
for salmon weighing 3-6 kilo. It's said to be because of lower 
supply," said one producer, who declined to be named. 
    He warned however that a rapid price increase could trigger 
a backlash in the form of lower demand, and thus depress prices 
in the longer run. 
    A salmon exporter confirmed that prices were expected to 
rise for the coming week. 
    "Prices are sharply up and near 60 crowns per kilo in Oslo, 
up 7 crowns from the current week," he said, adding that not 
enough fish had been harvested and that poor weather conditions 
along Norway's coast had contributed to a tight market. 
    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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