November 2, 2018 / 1:21 PM / 11 days ago

Norwegian salmon price seen dropping to 50-53 crowns next week

OSLO, Nov 2 (Reuters) - The price for Norwegian farmed salmon is expected to drop 3-5 crowns next week to 50-53 crowns per kilo for deliveries in Oslo, two industry sources told Reuters on Friday.

“It’s a nervous market but we expect a price in the range 50-52 crowns per kilo next week on the main sizes 3-4 and 4-5 kilos salmon,” one producer who declined to be named said.

He said prices have been dropping during this week after starting at 55-57 crowns per kilo last Friday.

“Output is high and the market is reluctant to pay more,” he added.

An exporter confirmed the price drop.

“So far we have not bought anything but the indications are for an average price of 52-53 crowns for delivery in Oslo next week. Compared to this week prices are down about 3 crowns,” the exporter said, adding this was due to holidays in Europe.

In the forward market prices are stable or down on Friday but all contracts up to 2020, except the October and November 2018 contracts, were still above 60 crowns per kilo.

The highest price is for the December 2018 contract which stands at 66.80 crowns per kilo, according to data from Fish Pool. (Reporting by Ole Petter Skonnord, editing by Camilla Knudsen)

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