Norwegian Salmon Shares Fall Amid Lower Prices

OSLO - Shares in Norwegian salmon producers fell on Friday alongside weaker salmon prices, extending a recent retreat from peaks, and the fish industry predicted salmon prices would slip further.

Shares in Pan Fish, the world's largest fish farmer, traded down 2.1 percent at 6.45 Norwegian crowns by 1259 GMT, off a two-and-a-half-year high of 7.68 crowns set on June 1.

Rival fish producer Cermaq's shares fell 1.2 percent to 79.70 crowns, off a life high of 99 crowns set in May.

Smaller rival Leroy Seafood traded down 0.9 percent at 115 crowns, off a peak of 133 crowns set in late April.

"We see a small collapse in salmon prices," one analyst said.

The Norwegian Seafood Federation (NSF) said on Friday that the average price of fresh salmon last week fell to 37.18 crowns per kilo from 37.41 the previous week, and it predicted a continued fall in prices to 36.29 crowns/kg for this week.

Source: Reuters