April 6, 2018 / 12:55 PM / 15 days ago

Norwegian salmon price seen falling, may hit NOK 67/kg next week -sources

OSLO, April 6 (Reuters) - The price of Norwegian farmed salmon is expected to drop next week, partly reversing a recent surge, industry sources told Reuters on Friday.

One market source, who declined to be named, estimated a price drop by around 8 crowns to 67 crowns per kilo for delivery in Oslo.

Prices this week were in the range 74-75 crown, pushed up by low harvesting during Easter.

“It’s still a high price for next week but down 8 crowns from the current week, the exported said, adding that 60 crowns would have been a more reasonable level to balance demand and supply.

A producer, who also declined to be named, said prices were declining, although it was too early to say exactly which level it would settle at for deliveries next week.

In late January, prices were close to 50 crowns per kilo.

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 (2017 data is not fixed).

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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