The market awaits consumer reaction to the high prices as the autumn mackerel season hits markets from mid-December onwards

Tight Supply and Strong Krone Drive Record Mackerel Prices; Herring Exports Decline in November

NORWAY
Thursday, December 04, 2025, 09:00 (GMT + 9)

Volume Plummets for Both Herring and Mackerel Despite Surging Demand in Key Asian Markets

Norway's pelagic seafood sector experienced divergent trends in November, as exports of herring faced falling volumes and mixed demand, while mackerel prices skyrocketed due to tight supply and a strengthening Norwegian krone (NOK).

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Mackerel: Volume Drops 51% While Prices Hit New Highs

Norway exported 21,655 tonnes of mackerel in November, generating a total value of approximately US$99.4 million (NOK 1.1 billion).

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• Value and Volume: The volume saw a sharp decline of 51 percent compared to last year. While the total value fell by 11 percent, or roughly US$13.0 million (NOK 144 million), this reflects extreme price inflation offsetting the low volume.

• Price Surge: Export volumes were constrained by early quota catches and tight supply, causing the export price for mackerel under 600 grams to exceed 50 kroner per kilogram for the first time—an 81 percent increase over November last year.

• Top Markets: Key markets for mackerel were South Korea, Vietnam, and China.

Jan Eirik Johnsen, responsible for pelagic species at the Norwegian Seafood Council, noted the impact of the tight supply: "This has led, among others, to the export price for mackerel under 600 grams being over 50 kroner for the first time."

Herring: Export Value Falls 25% Amid NVG Quota Depletion

Exports of herring in November totaled 29,556 tonnes, valued at approximately US$52.1 million (NOK 577 million).

• Export Decline: The value fell by 25 percent (about US$17.2 million or NOK 190 million), with volume dropping by 27 percent year-on-year.

• Quota Impact: The quota for NVG herring was fished out by the end of November. The harvest season, starting in mid-October, landed 135,000 tonnes, a decrease of 25,000 tonnes from last year, affecting November's export volume.

• Demand Dynamics: Demand for fillet products is reported as good, while demand for frozen whole herring is weaker. However, some players are increasing purchases of whole frozen herring to keep production running due to the high prices of mackerel.

• Top Markets: The largest markets were Poland, Denmark, and Egypt.

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Johnsen commented on the mixed signals: "For frozen whole herring, the price in November is lower than it was in the same month last year. This is probably due to both a slightly sluggish market and the fact that the quota for NVG herring will be increased significantly next year."

Currency Strength Amplifies High Prices

The soaring prices are further impacted by the strengthening of the Norwegian krone against key Asian currencies, making the exports more expensive for international buyers.

• The NOK is 8 percent stronger against the Japanese yen, 12 percent stronger against the Korean won, and 8 percent stronger against the US dollar compared to November last year.

The market awaits consumer reaction to the high prices as the autumn mackerel season hits markets from mid-December onwards, while uncertainty remains over the setting of the total quota for mackerel in 2026.

editorial@seafood.media
www.seafood.media

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