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Photo: Union Forsea Corp.
Norwegian Mackerel Dominates South Korea’s Import Market with 50% Surge in Volume
SOUTH KOREA
Tuesday, April 15, 2025, 03:00 (GMT + 9)
Seoul – Frozen Norwegian mackerel has strengthened its position as South Korea’s top imported mackerel, capturing 85% of total imports in March 2025.
New trade data shows 25,454 tons of frozen mackerel were imported – a 50% increase from 16,400 tons in March 2024.
Click on the image to enlarge it
Price Trends: Stable Market Conditions
- 300/500g size: $72.50 (KRW 99,000) (unchanged since March)
- 400/600g size: 73.90/KRW 101,000 in March)
- Average import price: 2.75/kg
Market analysts expect prices to remain stable near 74 (KRW 100,000) in the short term, supported by consistent supply and demand.
Import Sources: Norway’s Market Leadership
- Norway: 21,663 tons (85%) at $2.75/kg
- China: 2,277 tons (9%) at $1.92/kg (discounted alternative)
- Netherlands & UK: 1,168 tons combined
The surge in Norwegian mackerel reflects South Korea’s preference for its quality, while Chinese imports remain a budget option at 36% cheaper than Norwegian product.
Market Outlook
Prices are projected to hold steady barring supply disruptions. However, global catch volumes and USD-KRW exchange rate fluctuations could impact future pricing.
Exchange Reference:
$1 ≈ KRW 1,365 (April 2025 average)
Wholesale prices based on Seoul distribution data
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Source: Union Forsea Corp.
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