Photo: Union Forsea Corp.

Norwegian Mackerel Wholesale Prices See Slight July Dip Amid Robust Imports

SOUTH KOREA
Wednesday, July 16, 2025, 15:00 (GMT + 9)

South Korea's frozen mackerel imports jumped over 50% in June 2025 compared to last year, with Norway accounting for more than 80% of the volume. While wholesale prices generally held steady, a minor decrease was observed for Norwegian mackerel in mid-July, even as overall import volumes remain robust.

SEOUL – South Korea's demand for frozen mackerel saw a significant increase in June 2025, with imports reaching 38,501 tons. This marks a substantial 51.4% rise compared to the 25,430 tons imported in June 2024, signaling a strong appetite for the popular fish in the Korean market.

The average import unit price for all frozen mackerel during this period stood at $2.67 per kilogram. Unsurprisingly, Norwegian mackerel continued to assert its market dominance, representing the largest share of imports with 31,078 tons, or 80.72% of the total volume. The average import unit price for Norwegian mackerel was slightly higher than the overall average, at $2.80 per kilogram.

Other notable suppliers included China, which exported 3,424 tons (8.89% share) at an average unit price of $1.85 per kilogram. The United Kingdom and the Netherlands also contributed significantly, supplying 1,510 tons and 1,167 tons, respectively, to the South Korean market.

Wholesale Prices See Minor Fluctuations

In the domestic wholesale market, prices for trawl-caught mackerel had remained relatively stable since June 2025. For the popular 300/500g size, prices hovered around KRW 96,000 (approximately $69.57 USD) per unit, while the 400/600g size was approximately KRW 98,000 (around $71.01 USD) per unit.

Click on the image to enlarge it. Source: Union Forsea Corp

However, by the third week of July 2025, a slight adjustment was observed specifically for Norwegian frozen mackerel. The wholesale price for the 300/500g trawl-caught size saw a 3% drop, moving from approximately KRW 99,000 ($71.74 USD) in June to KRW 96,000 ($69.57 USD). Similarly, the 400/600g size experienced a 2% decrease, falling from KRW 100,000 ($72.46 USD) in June to KRW 98,000 ($71.01 USD).

This minor softening in wholesale prices for Norwegian mackerel comes despite the overall surge in import volumes, suggesting a dynamic interplay between supply, demand, and market adjustments in the South Korean seafood sector.

Source: Union Forsea Corp.

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