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

In the first quarter of 2025, South Korea witnessed a significant surge in frozen mackerel imports, recording a 55% increase compared to the same period in the previous year. This substantial growth reflects a clear upward trend in the seafood import market.

March 2025 alone saw South Korea importing 5,397 tons of frozen mackerel, marking an impressive 86% increase from the 2,901 tons imported in March 2024. The cumulative import volume for Q1 reached 25,454 tons, up from 16,400 tons in the corresponding period last year. These imports accounted for approximately 11% of the country’s total seafood imports, which stood at 234,669 tons.

Norway emerged as the dominant supplier, contributing 85% of the total imports at 21,663 tons. This was followed by China with 2,277 tons (9%), the Netherlands with 793 tons, and the United Kingdom with 375 tons.

Import prices per kilogram varied by country:

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

The growth in import value was also notable, with the total import value for March 2025 amounting to USD 13.64 million, a 109% increase from USD 6.51 million in March 2024. The cumulative import value for Q1 reached USD 67.62 million, marking an 85% increase from USD 36.49 million in the previous year.

The average import price rose to USD 2.66/kg, up 19% from USD 2.23/kg in 2024. Despite the increase in import volumes, domestic wholesale prices remained high, indicating a continuing trend expected to persist into the second quarter.

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

Sources:

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

Images © Union Forsea Corp.