June 29, 2018 / 12:09 PM / 6 months ago

Price of Norwegian salmon seen rising next week

OSLO, June 29 (Reuters) - The price of farmed Norwegian salmon is set to increase next week as availability declines, industry sources told Reuters on Friday.

While spot prices for this week were in the range of 55-59 Norwegian crowns per kilo for Oslo delivery, they are set to range from 57 to 63 crowns next week, with large variations for the different sizes of fish, producers and exporters said.

Prices for this week had initially been expected to come in at 50-55 crowns per kilo, but in the end came in a bit higher, said the sources, who declined to be named.

After a recent increase in the supply of salmon, volumes are now declining as Norway enters its summer holiday season, they added.

Norway is the world’s top salmon producer, with fish farming the country’s second-largest export industry after oil and gas. The share price of listed farming companies depends heavily on changes in the price of fish.

Leading Norwegian producers include Marine Harvest, Salmar, Leroy Seafood, Grieg Seafood and Norway Royal Salmon. (Reporting by Camilla Knudsen, editing by Terje Solsvik)

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