OSLO: The average price of Norwegian farmed salmon is seen flat to down 1 crown to 61-63 crowns per kilo for deliveries in Oslo next week, industry sources told Reuters on Friday.
“So far it’s quiet, and prices diverge. In sum we expect prices to be stable to slightly down, probably around 62-63 crowns in Oslo,” said a producer who declined to be named. An exporter said prices would probably drop by 1 crown.
“There’s a price gap between producers and customers. So far there are very few confirmed transactions. 3-4-kilo salmon trade at 60 crowns, while salmon larger than 4 kilos trade at 61 crowns in Mid-Norway and Northern Norway,” the exporter said.
For deliveries in Oslo you can add 1 crown on those prices which means 61-62 crowns.
Both the producer and the exporter said wholesale prices held up well in the face of price hikes by European retailers.
Supply constraints are expected to support prices in the first half of 2017 before an expected increase in volumes later in the year, Norwegian salmon farmers such as Marine Harvest and Salmar recently said.
Since early January, prices have fallen from around 80 crowns per kilo. Still, earnings margins remain high by historical standards, despite a sharp rise in production costs in Norway in recent years to around 30-31 crowns per kilo.
Norway is the world’s top salmon exporter, with leading producers including Marine Harvest, Salmar, Leroy Seafood, Grieg Seafood and Norway Royal Salmon.
