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REFILE-Price of Norwegian farmed salmon seen down 10 pct on Russia ban -sources
August 8, 2014 / 11:02 AM / 3 years ago

REFILE-Price of Norwegian farmed salmon seen down 10 pct on Russia ban -sources


OSLO, Aug 8 (Reuters) - Norwegian farmed salmon prices for delivery next week are seen falling around 10 percent compared to a week earlier, weighed down by Russia’s ban on fish imports from Western nations, market sources said on Friday.

Prices are likely to fall by 3 to 4 crowns per kilo on average from around 34 kilos this week, one salmon producer and one exporter said.

Russia banned all Norwegian seafood on Thursday, along with a wide range of agricultural products from countries which have imposed sanctions against Russia over its role in the Ukrainian conflict.

“We believe prices will fall by around 3 crowns (per kilo) next week. For deliveries in Oslo we talk about prices at around 30-31 crowns,” said the exporter, who declined to be named.

“It’s important that the producers cut their output next week. When this ban was announced yesterday it was complete chaos,” he added.

Several salmon farmers said the price was falling. One said it was likely to drop by 3 to 4 crowns for next week, while others said the market had taken a “wait and see” approach.

Leading producers include Marine Harvest, Cermaq , Salmar, Leroey Seafood, Grieg Seafood and Norway Royal Salmon. (Reporting by Ole Petter Skonnord, editing by Terje Solsvik and Jon Boyle)

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