April 20, 2018 / 12:13 PM / a year ago

Norwegian salmon price seen easing to NOK 64-65 next week -sources

OSLO, April 20 (Reuters) - The price of Norwegian farmed salmon is expected to drop about two crowns to a range of 64-65 crowns per kilo for deliveries in Oslo next week, industry sources told Reuters on Friday.

It would be the third successive week of declining prices from a peak around the Easter holiday.

“We expect 64 crowns per kilo next week, down a couple of crowns from this week,” said an exporter who declined to be named.

A salmon producer confirmed a price drop was likely, adding that 64-65 crowns per kilo was the most probable scenario.

In late January, the price of salmon stood at around 50 crowns per kilo, on fears of strong supply growth, but a cold Norwegian winter has since resulted in slower growth in fish stocks, sending prices to 75 crowns around Easter.

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, Leroy Seafood, Grieg Seafood and Norway Royal Salmon. (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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