January 25, 2019 / 1:12 PM / 3 months ago

Norway salmon price seen falling 5-7 crowns to NOK 53 next week

OSLO, Jan 25 (Reuters) - Norwegian farmed salmon price is expected to drop sharply next week and trade in a range of 53-55 Norwegian crowns per kilo, down from around 59-60 crowns this week, two industry sources told Reuters on Friday.

“Prices are dropping 6-7 crowns in average and we expect 53 crowns per kilo in average for deliveries in Oslo,” one exporter told Reuters who declined to be named.

“The market is bad and we believe prices will stay in the low 50’s for a while,” the exporter added.

One producer expected a price of 55 crowns or below and said prices for the biggest salmon had a big drop because of weaker demand from China due to New Year celebration.

In the forward market most contracts up to 2020 were dropping or flat. 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 0.55 crowns since last Friday. (Reporting by Ole Petter Skonnord, editing by Camilla Knudsen)

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