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Position in Universe 163rd / 1830

Price of Norwegian farmed salmon seen up to NOK 50-53/kg next week

Fri 9th February, 2018 1:50pm
OSLO, Feb 9 (Reuters) - The price of Norwegian farmed salmon 
is expected to rise to a range of 50-53 crowns ($6.27-$6.64) per 
kilo for deliveries in Oslo next week, up from about 49-50 
crowns this week, industry sources told Reuters on Friday. 
    Prices this week were initially expected to drop 3-5 crowns 
to 47.5-48 crowns per kilo but appeared to have reached a higher 
range of around 49-50 crowns per kilo. 
    "Prices are rising two-three crowns to 52-53 crowns per kilo 
on the main sizes of salmon, (those weighing) 3-6 kg," said one 
producer, who declined to be named. 
    "What has an impact in this week is a weaker crown," the 
producer added. 
    Over the past week the crown has weakened two percent to 
9.79 against the euro. The eurozone is the biggest market for 
Norwegian salmon.   
    One exporter expected a somewhat lower recovery. 
    "It's about stable, around 50 crowns per kilo next week, the 
big producers are pushing up prices, so we are a bit squeezed," 
the exporter said. 
    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 . 
($1 = 7.9798 Norwegian crowns) 
 
 (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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