SOUTH KOREA’S FROZEN MACKEREL IMPORTS SOAR

South Korea’s frozen mackerel imports soar 51% in H1 2025 compared to last year. According to statistics, the cumulative frozen mackerel import volume from January to June this year totalled 38,501 tons, a significant increase from 25,430 tons in the same period of 2024. This volume accounts for approximately 8% of the total seafood imports, which stood at 460,363 tons.

Notably, frozen mackerel imports in June alone reached 1,624 tons, a whopping 363% increase compared to 351 tons in June 2024.

In the first half of this year, Norway dominated frozen mackerel imports, accounting for 81% of the total with 31,078 tons. China followed with 3,424 tons (9%), while the UK imported 1,510 tons and the Netherlands imported 1,167 tons.

Regarding unit prices by country, Norwegian mackerel was priced at USD 2.80/kg, Chinese at USD 1.85/kg, and Dutch at USD 2.84/kg.

Along with the increase in import volume, the import value also surged significantly. In June 2025, frozen mackerel import value reached USD 4.42 million, a 538% jump from USD 690,000 in the same period last year. The cumulative import value also recorded USD 102.97 million, an 80% increase from USD 57.34 million in the first half of 2024.

The average import unit price was USD 2.67/kg, up 19% from USD 2.25/kg last year. This increase is attributed to a combination of rising mackerel demand and fluctuations in international market prices.

As of the first week of July, domestically distributed Norwegian frozen mackerel (20kg package, 400/600 grams) is priced at around KRW 98,000, a 42% increase compared to KRW 69,000 in the same period of 2024.

To curb this sharp increase and stabilise prices, the government has decided to apply an adjusted tariff of 0%, instead of the standard 10% import tariff, on 10,000 tons of frozen mackerel imported starting July 1st.

Source : Union Forsea Corp.