Price Flip: Korean Mackerel Becomes Cheaper Than Norwegian Imports
Creatrip Team
a month ago
Norwegian mackerel prices have surged due to reduced catch quotas (TAC) and lower production, causing a price reversal where domestic Korean mackerel is now often cheaper. Major retailers report strong growth in sales of local mackerel—Emart saw a 49.4% rise (Jan–May) while imported mackerel sales fell—linked to the steep rise in Norwegian frozen mackerel unit prices (from about $2/kg last year to $6/kg in May). Imported salted mackerel retail prices jumped roughly 26.5% year-on-year, whereas domestic frozen mackerel wholesale prices fell over 10% as local catches remained healthy and retailers pre-stocked more supply. Retailers are also seeking new sources—Emart will start selling mackerel from Chile, which are larger than Norwegian fish but about half the price—to meet demand. The government has formed a summer supply-stability task force and plans to release up to 8,000 tons from state fish reserves to ease rising prices of key food items.
