Photo: Union Forsea Corp.

South Korea's Frozen Herring Imports Plummet 39% Amidst Russian Supply Shift

SOUTH KOREA
Wednesday, June 18, 2025, 00:10 (GMT + 9)

Russian Domestic Consumption Drives Down Imports, Raising Per-Unit Prices

SEOUL – South Korea's imports of frozen herring have experienced a significant downturn through May 2025, with cumulative volume dropping by 39% compared to the same period last year. The sharp decline is primarily attributed to structural changes in supply, notably increased domestic consumption within Russia, which accounts for a staggering 95% of South Korea's frozen herring imports.

In May alone, frozen herring imports reached 1,156 tonnes, a stark 50% decrease from 2,299 tonnes in May 2024. This monthly contraction deepened the overall market slowdown. For the cumulative period from January to May 2025, total imports stood at 6,446 tonnes, a considerable fall from 10,532 tonnes recorded in the first five months of 2024. Despite this dramatic drop, frozen herring still represents approximately 1.7% of South Korea's total seafood imports, which amounted to 388,969 tonnes.

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Russia's Dominance and Shifting Dynamics

Russia remains the overwhelmingly dominant supplier of frozen herring to South Korea, having provided 6,103 tonnes through May, representing about 95% of the total import volume. Norway followed distantly with 338 tonnes, and Myanmar contributed a mere 5 tonnes.

The average import price per kilogram varied by origin, with Russian herring priced at USD 0.89 and Norwegian herring at a higher USD 1.32.

Financially, the total import value for frozen herring in May was USD 1.01 million, a 46% decrease from USD 1.87 million in May 2024. The cumulative import value from January to May also saw a substantial decline, falling 37% to USD 5.87 million from USD 9.36 million in the corresponding period last year.

Interestingly, despite the significant drop in both volume and total value, the average import price per kilogram witnessed a slight increase, rising 3% to USD 0.91 from USD 0.89/kg in 2024. This indicates a modest rise in the per-unit export price of the product.

Industry observers suggest that the primary cause for the decline in South Korea's frozen herring imports is not a reduction in catch volume, but rather a strategic shift in supply patterns, particularly from Russia, as more of their herring is being consumed domestically. This trend highlights the vulnerability of South Korea's supply chain to changes in key exporting nations' domestic markets.

Source: Union Forsea Corp.

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