SIGNIFICANT INCREASE IN FROZEN MACKEREL IMPORTS IN SOUTH KOREA

Significant Increase in Frozen Mackerel Imports in South Korea.

As of February 2025, a total of 7,953 tons of frozen mackerel were imported, marking a 114% increase compared to 3,718 tons during the same period last year.

The cumulative import volume also grew significantly, reaching 20,057 tons, a 53% increase from 13,149 tons recorded in the same period in 2024. As a result, mackerel has become the second-most imported seafood in Korea after pollock, accounting for 13% of the total seafood imports of 152,793 tons.

By country, Norway dominated with 91% of the imports, totalling 18,314 tons, followed by China (5%, 1,050 tons), the UK (375 tons), and the Netherlands (206 tons).

The import unit prices by country were as follows:

• Norway: USD 2.74/kg
• China: USD 2.00/kg
• UK: USD 2.75/kg

The total import value of mackerel also surged.

By February 2025, the total import value reached USD 21.14 million, reflecting a 157% increase from USD 8.23 million in the same period last year.

The cumulative import value rose to USD 53.93 million, up 85% from USD 29.19 million in 2024, indicating a continued expansion of mackerel imports.

The average import price also saw an increase, reaching USD 2.69/kg by February 2025, up 23% from USD 2.22/kg in the previous year.

This increase is attributed to changes in global catch volumes and rising raw material costs.

An industry official stated,

“As demand for mackerel continues to grow, imports from major suppliers like Norway have increased significantly. It is essential to closely monitor international fishing conditions and price volatility in the coming months.”

Additionally, in South Korea, Norwegian mackerel prices tend to surge from early July each year when stock levels start to deplete. Some companies, despite having inventory, choose to hold onto their stock to sell at higher prices later, contributing to market fluctuations.

Source : Union Forsea Corp.

Main Image: Union Forsea Corp.

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