Photo: Union Forsea Corp.

Korean Imports of Frozen Mackerel Surge 54% in 2025

JAPAN
Thursday, October 09, 2025, 00:10 (GMT + 9)

South Korea acquires 39,923 tonnes of mackerel, valued at USD 106.92 million through September, marking an 83% increase in value, despite rising prices and heavy reliance on Norway.

SEOUL – South Korea’s imports of frozen mackerel (excluding fillets) have shown a significant increase in 2025. According to data compiled by Union Forsea Corp., imports between January and September reached 39,923 tonnes, up 54% from 25,914 tonnes in the same period last year. The import value also rose sharply by 83%, reaching USD 106.92 million.

This increase in volume and value is accompanied by greater cost pressure, as the average import price increased from USD 2.26/Kg in 2024 to USD 2.68/Kg in 2025.

Norway Dominates, But Its Share Declines

Norway remained the largest supplier, exporting 31,766 tonnes of mackerel to Korea in 2025, accounting for 79.6% of total imports. This was an increase of 8,282 tonnes compared to last year, and the unit price also climbed from USD 2.26/Kg in 2024 to USD 2.79/Kg in 2025.

However, Norway’s overall share fell from 90.6% in 2024, indicating that imports are diversifying toward other origins such as China, the UK, and the Netherlands.

China, UK, and Netherlands on the Rise

• China exported 3,936 tonnes, an increase of 2,494 tonnes compared to last year, although the unit price dropped from USD 1.99/Kg to USD 1.87/Kg.

• The UK made a strong entry with 1,820 tonnes, virtually a new supplier, recording one of the highest unit prices at USD 2.86/Kg.

• The Netherlands also expanded its exports to 1,383 tonnes, with its unit price rising to USD 2.75/Kg.

New Emerging Suppliers

In 2025, several new origins entered the market, including Taiwan (258 tonnes), France (195 tonnes), the Faroe Islands (177 tonnes), Chile (98 tonnes), Argentina (26 tonnes), and India (6 tonnes). While volumes remain small, these developments mark significant progress toward supply diversification.

Supply Stability and Price Volatility

Overall, Korea’s frozen mackerel imports have shown solid growth, with a gradual diversification of supply sources. However, dependence on Norway remains overwhelming. While major suppliers are increasing their prices, low-cost products from some origins are also entering the market.

A mackerel specialist from Union Forsea commented: "The simultaneous expansion of import volumes and rising unit prices is a signal of structural changes in the supply chain. Going forward, diversification of origins and long-term contracts will be increasingly important to mitigate price volatility."

As a reference, wholesale prices of Atlantic mackerel imported from Norway and distributed in Korea were around KRW 155,000 per 20 kg (400-600 g) in early October. This represents a 55.7% increase compared to KRW 99,500 in August and a 13.1% rise compared to KRW 137,000 in mid-September.

Source: Union Forsea Corp.

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