3 Reasons Why Mackerel Prices Spiked 30% in a Year

ever wonder what's causing mackerel prices to rise? from reduced imports of Norwegian mackerel, to reduced catches due to climate change, to rising exchange rates, we break down why the price of mackerel has increased by more than 30% and what to expect in the future.

by the end of 2025, the price of imported mackerel exceeded $10,000 per hand. a combination of lower domestic catches of medium and large mackerel, a reduction in Norwegian export quotas, and a rising exchange rate means that mackerel prices are unlikely to stabilize in the near future.

mackerel prices up more than 30% in a year

as of the end of December 2025, the price of imported mackerel exceeded KRW 10,000 per hand (2 fish). Just one year ago, in December 2024, the average price was around KRW 8,000, which is an increase of more than 30%. As mackerel is a staple fish in Korean meals, this increase is becoming a burden for many families.

the price of imported seafood is rising across the board, but the increase in mackerel prices is particularly noticeable and is felt by consumers. So why has the price of mackerel skyrocketed?

why aren't medium and large mackerel caught in Korea?

korean consumers prefer medium to large mackerel (300 grams or more and 25 centimeters or more) because when grilled or stewed, a certain size is necessary to ensure that the fat is enough to make it taste good and the flesh is thick enough to give it a good texture.

however, these medium to large-sized mackerel have been scarce off the coast of Korea recently due to climate change seafood impacts. Mackerel are originally born in warmer waters, such as the East China Sea or south of Jeju Island, and the young mackerel that hatch from their eggs are brought up to the Korean coast by ocean currents.

the waters off the coast of Korea used to be a stopover point for the young mackerel, where they could grow to maturity and then migrate again. However, in recent years, the ocean temperatures have become too warm for the mackerel to stay for long, which is the direct cause of the decline in mackerel catches.

how Norwegian mackerel imports have decreased

the decline in domestic catches has naturally led to an increased reliance on imports of Norwegian mackerel, which is highly favored in the Korean market due to its large size and rich oil content. Last year, more than 80% of all mackerel imports came from Norway.

the problem is that Norway continues to reduce the amount of mackerel it exports. The North Atlantic Ocean, where Norway fishes, is a common fishing ground shared by many countries. To prevent depletion of the resource, each country agrees to set a total amount, or quota, that can be caught in a year.

the quota is shrinking rapidly each year, from 210,000 tons in 2024 to less than 80,000 tons in 2026, which means less Norwegian mackerel imports are inevitable.

declining mackerel populations and low birth rates

the underlying reason for the decrease in quotas is that the mackerel population itself has decreased. From the 2000s to the late 2010s, mackerel was so abundant that there was no need to reduce quotas, but from the late 2010s onwards, mackerel were not caught as much as they used to be.

as the water temperature increased, the environment changed, and the larger mackerel either couldn't adapt and died early, or they left for colder waters. It was literally a low birth rate for mackerel.

the impact of rising exchange rates on import prices

if you look at the import-export price relationship, as the value of the Korean Won has gone down, the price of imports has gone up across the board. Norwegian mackerel is often paid for in dollars or euros, and as the exchange rate has gone up, the price of imported mackerel has gone up as well.

with a decrease in supply and the same demand, coupled with an increase in the exchange rate, the outlook for seafood prices in 2026 does not look promising.

looking ahead and alternatives

the biggest problem is that there is not enough supply chain to replace Norway. There are attempts to diversify imports with Chilean mackerel, but the volume of Chilean exports is not as high as Norway.

interestingly, South Korea's mackerel exports have actually increased, but it's the small mackerel that has increased. African countries such as Ghana and Nigeria prefer small mackerel because they often fry the whole mackerel or use it for feed.

as a result, the shortage of medium and large mackerel, which Korean consumers prefer, is likely to continue for the foreseeable future.

frequently Asked Questions

Q1. How much has the price of a handful of mackerel increased?

A1. The price of a handful of imported mackerel, which was around KRW 8,000 on average in December 2024, has exceeded KRW 10,000 by the end of December 2025, an increase of more than 30%.

Q2. What are the reasons for the decrease in Norwegian mackerel imports?

A2. It is because the quota agreed upon by each country to prevent the depletion of resources in the North Atlantic common fishery has been decreasing every year, from 210,000 tons in 2024 to less than 80,000 tons in 2026.

Q3. Why aren't we catching mackerel in Korea?

A3. Climate change has led to warmer ocean temperatures, which means that mackerel can't stay off the coast of Korea for as long as they used to, as they migrate to other oceans before they can grow to medium to large size.

Q4. Is there a possibility that the price of mackerel will decrease in the future?

A4. Due to the lack of an alternative supply chain to Norway, climate change, and rising exchange rates, it is unlikely that prices will stabilize in the near future.

Q5. Is Chilean mackerel an alternative?

A5. We are trying to diversify our imports with Chilean mackerel, but Chile's export volume is not as large as Norway's, so it is not a complete alternative.

key takeaways

the rising price of mackerel is a combination of lower domestic catches, reduced Norwegian quotas, and a rising exchange rate. Changes in fisheries ecosystems due to climate change are the root cause, and price stability is unlikely in the near future.

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