Q1 FROZEN MACKEREL IMPORTS SURGE 55% YEAR-ON-YEAR

Q1 Frozen Mackerel Imports Surge 55% Year-on-Year – Norwegian Supply Dominates

In the first quarter of 2025, South Korea’s frozen mackerel imports surged by 55% compared to the same period last year, reflecting a sharp upward trend.

In March alone, South Korea imported 5,397 tons of frozen mackerel, marking an 86% increase from 2,901 tons in March 2024. The cumulative import volume for Q1 reached 25,454 tons, up from 16,400 tons in the same period last year — accounting for approximately 11% of the country’s total seafood imports of 234,669 tons.

Norway overwhelmingly dominated the supply, accounting for 85% of total imports (21,663 tons), followed by China (2,277 tons, 9%), the Netherlands (793 tons), and the United Kingdom (375 tons).

By country, import prices per kilogram were as follows:

• Norway and the UK: USD 2.75/kg
• China: USD 1.92/kg
• Netherlands: USD 2.68/kg

In terms of value, the growth was also significant. The import value in March 2025 totalled USD 13.64 million, a 109% increase from USD 6.51 million in March 2024. The cumulative import value for Q1 stood at USD 67.62 million — up 85% from USD 36.49 million the previous year.

The average import price reached USD 2.66/kg, up 19% from USD 2.23/kg in 2024.

Despite the rise in import volumes, domestic wholesale prices remain high, a trend that is expected to continue into the second quarter.

Another notable trend in Q1 is the diversification of import sources. While South Korea imported mackerel from only four countries in 2024, the number has expanded to ten in 2025, with new suppliers including the UK, France, and Germany.

Source : Union Forsea Corp.

Official website : https://www.forsea.co.kr

Images © Union Forsea Corp.