December 29, 2017 / 1:25 PM / 8 months ago

Price of Norwegian farmed salmon seen rising to 54-57 next week

OSLO, Dec 29 (Reuters) - The price of Norway’s farmed salmon is expected to rise to a range of 54-57 crowns next week for deliveries in Oslo, industry sources told Reuters on Friday.

Prices in current week were initially expected to rise to 47-51 crowns but seems to end in the range of 53-54 crowns. Final prices are settled on Tuesday next week on the Nasdaq Salmon bourse.

“Prices are up for next week, and main sizes are in the range 55-57 crowns,” one producer who declined to be named said.

“It’s lower volumes and fewer production days,” he added.

One exporter confirmed the price rise.

“Prices are slightly up to about 54 crowns in average in Oslo,” the exporter said.

Many producers are expected to curb harvesting in the coming days however, supporting a price recovery.

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.

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 Henrik Stolen)

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