Photo: Union Forsea Corp.

Frozen mackerel imports fall 71% in June 2024

SOUTH KOREA
Thursday, July 04, 2024, 06:50 (GMT + 9)

Imports of frozen mackerel imported into the country fell sharply in June 2024. Frozen mackerel imports in June amounted to 351 tons, down 71% from 1,220 tons in June 2023. Accumulated imports in the first six months of 2024 were 25,430 tons, down 21% from 32,240 tons a year earlier, accounting for about 5.7% of total seafood imports of 445,418 tons. 

Looking at the import status by country, frozen mackerel imported from Norway accounted for 91% of the total with 23,125 tons by June 2024, while 1,405 tons (5.5%), 757 tons from the Netherlands, 95 tons from Germany, and 45 tons from Japan were imported from China, and the import unit price by country was the highest at USD 2.33/kg, with Norwegian forming at USD 2.26/kg, Dutch forming at USD 2.15/kg, and German forming at USD 2.32/kg.

Imports of frozen mackerel during June 2024 were USD 690,000, down 74% from USD 2.62 million in June 2023. Accumulated imports for the year were USD 57.34 million, down 18% from USD 69.69 million in the same period last year, and the average import unit price was USD 2.25/kg, up 4% from USD 2.16/kg in the previous year. 

The drop in imports and the drop in amount is attributed to various factors, including global supply chain problems and a drop in demand, and it is expected that continuous monitoring of imports and price fluctuations will be needed in the future.

For reference, the domestic wholesale distribution price of frozen mackerel is 69,000 won based on a size of 300/500 made in Norway and 73,500 won based on a size of 400/600 made in Norway.

Source:Union Forsea Corp.

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