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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 166th / 1828

UPDATE 1-Forecaster Kontali cuts Norway 2017 salmon output forecast

Fri 23rd September, 2016 2:47pm
(Adds details) 
    OSLO, Sept 23 (Reuters) -  
    * Kontali Analyse expects Norwegian salmon output to rise 
3.5 percent year-on-year in 2017, managing director Ragnar 
Nystoeyl told Reuters on Friday. The previous prediction was for 
a 6 percent rise 
    * Nystoeyl said the industry's battle to get rid of sea 
lice, which attach themselves to the salmon, had triggered the 
cut 
    * Norway has a regulatory target of no more than 0.2 sea 
lice on average per fish 
    * Nystoeyl said producers are using exessive amounts of 
resources to achieve it 
    * Nystoeyl also says the wastage of fish is higher than 
expected, and that in addition infectious salmon anemia is also 
affecting output growth 
    * Nystoeyl also cut the number of smolt stocking by 3 
million fish compared to the previous estimate, which he linked 
to the new regulatory regime for growth, which the industry has 
opposed  urn:newsml:reuters.com:*:nL8N1BX3BP 
    * For the current year Kontali sees a salmon output decline 
of 3.5-4 percent vs 2015, which gives a total 2016 output in the 
range 1.18-1.19 million tonnes in Norway 
    * Globally, Kontali expects an output growth of just below 4 
pct in 2017, a slight downward adjustment from the previous 
prediction, after a drop of 7 pct in 2016 
    * Norway is the world's top salmon exporter with volumes 
more than double that of second-placed producer Chile 
    * Leading producers include Marine Harvest MHG.OL , Salmar 
 SALM.OL , Leroy Seafood LSG.OL , Grieg Seafood GSFO.OL  and 
Norway Royal Salmon NRSM.OL   
    * Lower output and strong demand drove salmon prices up to 
more than 80 crowns per kilo in July compared to an average 
export price of 42.87 crowns in 2015 
    * Increased supply to the market has in recent week resulted 
in a price drop to current levels around 53-54 crowns per kilo 
 urn:newsml:reuters.com:*:nL8N1BZ2W2 
    * Nystoeyl said Kontali does not forecast salmon prices but 
expects the demand-supply balance to continue to benefit 
producers 
    * Nystoeyl said high salmon prices could lead to lower 
demand from some segments in the market 
    * A strengthening of Norway's crown currency could also 
affect the price on salmon  
    * The Norwegian Seafood Federation, which represents the 
interests of approximately 500 member companies in the fisheries 
industry, predicted earlier this week the industry will see flat 
year-on-year salmon output in Norway in 2017 after a 5-6 percent 
drop in 2016  urn:newsml:reuters.com:*:nL8N1BX3CY 
 
 
 (Reporting By Ole Petter Skonnord, editing by Terje Solsvik) 
 ((olepetter.skonnord@thomsonreuters.com; 0047 23 31 65 97;)) 
 
Keywords: NORWAY SALMON/OUTPUT
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