It's a time for Norwegian exporters to reflect. Mackerel prices have climbed to a level that importers cannot pay

Norwegian Pelagic Market Report: August Mackerel Prices Hit Record High as Herring Exports Shift Focus

NORWAY
Thursday, September 04, 2025, 18:00 (GMT + 9)

Diverging Fortunes: Mackerel Value Soars Amidst Lower Volume, While Herring Reaches New Consumption Markets

OSLO—The Norwegian seafood export industry navigated a complex global market in August 2025, with diverging fortunes for its key pelagic species, herring and mackerel. According to data from the Norwegian Seafood Council, mackerel saw a significant increase in value despite a sharp drop in volume, while herring exports adapted to new market demands.

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Herring: A Shift to Consumption

In August, Norway exported 14,244 tonnes of herring, generating a value of NOK 298 million (approximately $29.65 million). This represented a slight 3% decrease in value compared to August of last year, even as export volume rose by 1%. The primary markets for Norwegian herring in August were Germany, Poland, and Denmark.

The end of the North Sea herring fishing season revealed that landings so far this year matched the 130,000 tonnes from the previous year. However, a significant shift has occurred in how the catch is being utilized. Jan Eirik Johnsen, responsible for pelagic species at the Norwegian Seafood Council, noted that more of the herring has been directed toward human consumption, and less toward the production of fishmeal and fish oil. This is a considerable change, with 80,000 tonnes used for consumption so far this year, a 33% increase from the 66,000 tonnes in the same period last year.

This strategic pivot is attributed to two main factors: less favorable prices for fishmeal and oil, and a strengthened Euro against the U.S. Dollar. As Johnsen explains, the herring for consumption is primarily sold to European markets, which benefit from the stronger Euro, while the fishmeal and oil trade is linked to the U.S. Dollar.

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Lower quotas have also contributed, leading to higher prices for consumer products, including marinated herring, which has seen export volumes nearly double compared to August of last year, buoyed by a new customs agreement with the European Union. This agreement, signed in December 2024, established 12 new duty-free import quotas for Norwegian seafood, which officially began on January 1, 2025, improving market access for processed products.

Mackerel: Price Records Amidst Quota Reductions

Norway exported 12,093 tonnes of mackerel in August, with an export value of NOK 460 million (approximately $45.77 million). This marks a 7% increase in value, despite a 30% decline in volume compared to the same month last year. The largest markets for mackerel in August were Vietnam, Japan, and the United States.

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The delayed start to the fishing season and a significantly lower global quota contributed to the decrease in export volume. However, as Jan Eirik Johnsen points out, this scarcity pushed prices upward. A new price record was set for mackerel under 600 grams, with an average of NOK 37.61 per kg (approximately $3.74 per kg), a remarkable 24.5% increase from the previous record set in February 2025, and a 54% increase from August 2024.

High prices have caused some buyers to hesitate. Johnsen notes that fishing has yielded more large mackerel (over 600 grams), which fewer markets demand. However, the United States has been an important market for this larger size, leading to an 83% growth in export volume of large mackerel to that market so far this year. This highlights the adaptability of Norwegian exporters in targeting specific markets based on the product available.

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