Over the past year, the price of Norwegian frozen mackerel supplied to South Korea has increased from $2.26 to $4.35.

In the first seven months of this year, South Korea imported 39,292 tons of frozen mackerel, a 54% increase compared to 25,554 tons in the same period of 2024, with imports in the last seven months surging by 539% year-on-year.

In recent years, South Korea's domestic mackerel stocks have been declining, forcing the country to become increasingly reliant on imports to meet consumer demand.

Industry experts point out that global mackerel prices continue to rise due to persistent supply pressure.  The main reason is the continued reduction in fishing quotas in the Northeast Atlantic region, forcing all major supplying countries to raise prices.

The South Korean wholesale market has already felt the impact of this price surge.

The wholesale price of a 20kg box of frozen mackerel from Norway surged from 100,000 won (approximately US$72.2) in week 33 to 120,000 won (approximately US$86.6) in week 34, an increase of 20%.