Photo: Union Forsea Corp./FIS

Wholesale Distribution Prices of Norwegian Mackerel (As of July 2024)

SOUTH KOREA
Wednesday, July 10, 2024, 06:50 (GMT + 9)

As of the end of June 2024, 25,431 tons of frozen mackerel were imported, representing a 21% decrease compared to the 32,240 tons imported during the same period in 2023. Due to this decrease in import volume, domestic distribution prices have been on the rise.

The average import price of frozen mackerel increased to USD 2.25/kg by the end of June 2024, up 4.3% from USD 2.16/kg in June 2023.

Norwegian mackerel accounted for the highest proportion of total imports, with 23,125 tons (90.9%), and the average import price was USD 2.26/kg. Chinese mackerel imports amounted to 1,405 tons (5.5%), with an average import price of USD 2.33/kg. Additionally, 757 tons were imported from the Netherlands, accounting for 3% of the total, with an average import price of USD 2.15/kg. Smaller quantities were imported from Germany (95 tons) and Japan (48 tons).

In week 28, the wholesale price of Norwegian frozen mackerel (300/500g size) was KRW 76,000, up 10.95% from KRW 68,500 in June and up 20.63% from KRW 63,000 in December 2023. For the 400/600g size, the price was KRW 77,000, reflecting a 7.69% increase compared to June 2024 and a 13.24% increase compared to KRW 68,000 in December 2023. The upward trend in the price of Norwegian mackerel is expected to continue for the foreseeable future.

Source: Union Forsea Corp.

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