In the first seven months of this year, South Korea imported 39,292 tons of frozen mackerel, a 54% increase from the 25,554 tons imported in the same period of 2024, with imports in July alone surging 539% year-on-year.
In recent years, domestic mackerel stocks in South Korea have been continuously declining, forcing the country to increasingly rely on imports to meet consumer demand.
Industry experts point out that due to sustained supply pressure, global mackerel prices have been steadily rising. The main reason is the continuous reduction of fishing quotas in the Northeast Atlantic region, forcing all major supplying countries to increase prices.
The South Korean wholesale market has already felt the impact of this price surge.
The wholesale price for a full box of 20 kg of frozen mackerel from Norway increased from 100,000 Korean won (approximately 72.2 USD) in the 33rd week to 120,000 Korean won (approximately 86.6 USD) in the 34th week, a rise of 20%.