Cuts in mackerel quotas drive prices through the roof in Japanese market

Industry insiders revealed that the suggested cuts far exceeded expectations. A Tokyo importer stated: "We originally thought that a reduction of 20%-30% was the limit, but it was cut by 70%. This is almost equivalent to a fishing ban, and the Japanese market is likely to collapse completely." Prices soar to historic highs In fact, even before ICES issued its recommendations, Japanese importers were already in the midst of a "price crisis." Due to a 22% reduction in the Norwegian quota for 2025 compared to the previous year, inventories were nearly exhausted, and raw materials in processing bases such as China and Vietnam were also nearly depleted, causing exporters to continuously raise prices since August. The opening price for Norwegian mackerel (400–600 grams) reached 600 yen per kilogram (about 4 USD), an increase of about 60% from the first price of the previous season. In early September, the price broke through 700 yen, rising to 770 yen by mid-September, and by the end of ...