SOUTH KOREAN FROZEN MACKEREL MARKET SURGES IN MAY 2025

South Korean frozen mackerel market surges in May 2025: Imports up 47%, value soars 75% amidst price stabilisation. Norway dominates supply as mackerel becomes second most imported seafood species.

South Korea’s imports of frozen mackerel experienced a significant surge in May 2025, with volumes increasing by 47% compared to the same period last year.

This robust growth has positioned frozen mackerel as a major player in the domestic seafood market, accompanied by a substantial 75% rise in import value. Despite the overall increase, wholesale prices for Norwegian mackerel saw a slight dip, indicating a potential stabilisation trend.

According to statistics, the import volume of frozen mackerel into South Korea from January to May 2025 reached a cumulative total of 36,877 tons, a 47% increase from 25,080 tons in the same period of 2024. Notably, May alone saw a dramatic 398% increase in imports, with 5,123 tons brought in compared to 1,028 tons in May 2024. This volume accounts for 9.48% of the total seafood imports (388,969 tons), making frozen mackerel the second most imported seafood species after frozen pollock (56,692 tons, 14.57%).

Country-Specific Import Trends: Norway Leads the Charge

Norway overwhelmingly dominated the frozen mackerel supply to South Korea, accounting for 82% of total imports with 26,148 tons by May. China followed with 2,943 tons (9%), trailed by the Netherlands (1,051 tons) and the United Kingdom (1,034 tons).

The import unit price for Norwegian mackerel was USD 2.78/kg, while Chinese mackerel was priced at USD 1.87/kg, and Dutch mackerel at USD 2.68/kg.

Import Value and Unit Price Soar

The import value for frozen mackerel in May alone was USD 13.09 million, a staggering 449% increase from USD 2.38 million in May 2024. The cumulative import value from January to May reached USD 98.48 million, marking a 75% increase compared to USD 56.43 million in the same period of 2024.

The average import unit price for frozen mackerel stood at USD 2.67/kg, an 19% increase from USD 2.25/kg in the previous year. This indicates that both increased volume and higher unit prices contributed significantly to the surge in import value.

Korean Wholesale Prices Show Slight Dip but Expected Stability

Despite the overall increase in imports, the wholesale prices for Norwegian frozen mackerel in the domestic Korean market saw a marginal decrease in the second week of May 2025.

For 300g/500g size (20kg package) frozen mackerel, the wholesale price was set at 98,500 KRW, a 0.51% decrease from 99,000 KRW in April. Similarly, the 400g/600g size (20kg package) was priced at 99,500 KRW, a 0.5% decrease from 100,000 KRW in April 2025.

Market experts anticipate that the price of Norwegian mackerel will largely remain stable around the 100,000 KRW mark for the foreseeable future, suggesting a balance between supply and demand.

This comprehensive data highlights the dynamic nature of South Korea’s frozen mackerel market, driven by robust import growth, rising values, and a relatively stable domestic price environment.

Source : Union Forsea Corp.
Official website : https://www.forsea.co.kr