January 18, 2019 / 1:35 PM / a month ago

Norway salmon price seen falling below NOK 60 next week

OSLO, Jan 18 (Reuters) - Norwegian farmed salmon is expected to trade in a range of 57-59 Norwegian crowns per kilo next week, down from 60-62 crowns this week, two industry sources told Reuters on Friday.

“On average we forecast 57-58 crowns next week from 60-62 crowns this week. The biggest fish is dropping 4-5 crowns while smaller fish is keeping up better,” said one producer who declined to be named.

“We expect prices to slip a bit more. High volumes are being harvested and January is traditionally a slow month,” he added.

An exporter said he expected an average price of 59 crowns compared with 60 this week.

“The market is working quite well but there is a drop for the larger fish,” the exporter said.

In the forward market most contracts up to 2020 were dropping or unchanged. All contracts were still quoted above 60 crowns per kilo except for the third-quarter 2019 contract, which stood at 59,87 crowns.

The January contract stood at 61.75 crowns per kilo, down 1.25 crowns since last Friday. (Reporting by Ole Petter Skonnord, editing by Terje Solsvik)

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