Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
   


While overall imports of Norwegian seafood have declined, certain products have seen significant increases, indicating shifting market trends

South Korean Imports of Norwegian Seafood Decrease by 8% Through September 2024 (Mackerel and Salmon Trade Data)

Click on the flag for more information about South Korea SOUTH KOREA
Friday, October 11, 2024, 01:20 (GMT + 9)

As of September 2024, South Korea's imports of Norwegian seafood have declined by 8% compared to the previous year.

In September alone, South Korea imported 3,385 tons of Norwegian seafood, marking an 11% increase from 3,038 tons in September 2023. However, cumulative imports for 2024 reached 51,073 tons, down from 55,420 tons during the same period last year. Norwegian seafood accounted for 8% of total seafood imports, which amounted to 651,137 tons.

  • Frozen mackerel imports totaled 23,484 tons, reflecting a 16% decrease from 27,941 tons last year.
  • Fresh salmon imports reached 12,029 tons, an 11% decline, while fresh salmon fillet imports decreased by 8% to 3,356 tons.
  • Frozen mackerel fillets saw a significant drop of 26%, with 3,347 tons imported. In contrast, fresh Atlantic salmon imports surged by 221% to 2,702 tons, up from 843 tons last year.

In terms of value, Norwegian seafood imports in September 2024 were valued at USD 37.52 million, a 16% increase from USD 32.21 million in the same month of 2023. However, the cumulative import value for 2024 was USD 397.92 million, reflecting a 7% decrease from USD 429.08 million in 2023. The average import price rose slightly to USD 7.79/kg, an increase of 0.6% from USD 7.74/kg the previous year. While overall imports of Norwegian seafood have decreased, certain products have experienced significant growth, indicating shifting market trends.

Sharp Increase in Frozen Mackerel Imports in September 2024

In September 2024, the volume of frozen mackerel imported into South Korea saw a notable rise compared to the same period last year. According to the Ministry of Oceans and Fisheries, a total of 187 tons of frozen mackerel were imported in September, marking a 290% increase from the 48 tons imported in September 2023.

Despite this substantial monthly increase, cumulative imports through September 2024 amounted to 25,825 tons, representing a 24% decrease from the 33,926 tons imported during the same period in 2023. This accounts for 4% of the total seafood imports for the year.

Norway was the primary supplier, providing 82% of the imports with 23,484 tons, followed by China with 1,441 tons (10.7%), the Netherlands with 757 tons, and Germany with 95 tons. The import prices per kilogram were USD 2.23 from Norway, USD 1.97 from China, USD 1.48 from Taiwan, and USD 2.03 from the Netherlands.

The total value of frozen mackerel imports for September 2024 was approximately USD 510,000, with the cumulative value for the year reaching USD 73.55 million, an 18% decline from USD 89.42 million recorded during the same period last year. The average import price in 2024 was USD 2.17/kg, down 9% from USD 2.39/kg in 2023.

The increase in frozen mackerel imports is expected to benefit domestic consumers by stabilizing prices and potentially boosting demand.

For reference, the domestic wholesale price of frozen mackerel in South Korea, specifically for Norwegian-origin, 400/600 size, 20kg, purse seine operation, is currently trading at 97,000 KRW.

Norwegian Fresh Salmon (1st Week of October 2024)

As of October 10, 2024, South Korea's cumulative imports of fresh salmon totaled 19,398 tons, nearly identical to the 19,315 tons imported during the same period in 2023. However, the total import value dropped by nearly 10%, with USD 273.25 million recorded this year, down from USD 302.60 million in 2023.

Most of the imports came from Norway, which supplied 18,737 tons, while Chile contributed 453 tons and Canada provided 90 tons. In terms of import prices, Norway had the highest at USD 13.87/kg, followed by Chile at USD 12.39/kg, and Canada at USD 12.23/kg, the lowest among the three.

This trend highlights the steady volume of imports despite a notable drop in overall import value.

Source: Union Forsea Corp.

[email protected]
www.seafood.media


 Print


Click to know how to advertise in FIS
MORE NEWS
Viet Nam
Nov 12, 07:00 (GMT + 9):
Vietnam’s Seafood Exports to the U.S.: Opportunities and Challenges Post-Presidential Election
Russian Federation
Nov 12, 07:00 (GMT + 9):
Russian Fishermen Caught About 500 Thousand Tons of Sardine Iwashi
Norway
Nov 12, 02:50 (GMT + 9):
The Norwegian Pelagic Fishing Course in Week 45
European Union
Nov 12, 01:00 (GMT + 9):
EU Commission and Norway Reach Agreement on Svalbard Cod Quota for 2025 and Beyond
Argentina
Nov 12, 00:10 (GMT + 9):
Justice Department Investigates Federal Fisheries Council Over Alleged Bribery in Quota System
American Samoa
Nov 12, 00:10 (GMT + 9):
Samoa advances coastal fisheries governance with legal training for sustainable marine resource management
Indonesia
Nov 12, 00:10 (GMT + 9):
Indonesia-China strengthen cooperation in fisheries sector: Minister
Azerbaijan
Nov 12, 00:00 (GMT + 9):
IN BRIEF - ICFA Releases Resolution Ahead of United Nations Climate Change Conference (COP 29)
Iran
Nov 12, 00:00 (GMT + 9):
Fishery production in Iran increases by 32 percent in 7 months annually
United States
Nov 11, 23:00 (GMT + 9):
IN BRIEF - NFI Annual Top 10 List Looks at Seafood’s Most Consumed Species in 2022
Worldwide
Nov 11, 08:00 (GMT + 9):
FAO GLOBEFISH: International trade of canned and processed fish (HS 1604) in 2019-2023
Japan
Nov 11, 06:40 (GMT + 9):
Abashiri Autumn Salmon Catch Update: 8.76 Million Fish, Valued at U$D 182M
France
Nov 11, 05:00 (GMT + 9):
Capécure's Transformation: A Fresh Face for Hauts-de-France’s Seafood Sector
United Kingdom
Nov 11, 00:10 (GMT + 9):
MSC: 'Climate change compounding challenge of nations sharing mackerel and herring in North-East Atlantic'
China
Nov 11, 00:10 (GMT + 9):
Possibilities for importing live snow crabs of Norwegian origin



Lenguaje
FEATURED EVENTS
  
TOP STORIES
International Market Overview for Norwegian Cod (Fresh, Frozen, Farmed, Salted, Dried)
Norway Good month for fresh cod Norway exported 1,774 tonnes of fresh cod worth NOK 115 million in October The value increased by NOK 3 million, or 3 per cent, compared with the same month last y...
Hirose Suisan Expands Scallop Processing with New Facility
Japan Hirose Suisan Co.,Ltd, a surimi producer based in Okoppe, Hokkaido, is set to double its scallop processing capacity with a new facility. Known for its pollock surimi, the company now aims to make sca...
Revo Foods and Paleo Secure €2.2 Million in Funding for Vegan Salmon Innovation
Austria Funding supports myoglobin development for salmon alternatives using Paleo’s precision fermentation and Revo Foods' 3D structuring technology THE FILET – Inspired by salmon is a vegan alternati...
The total catch of aquatic bioresources approached 4.3 million tons
Russia Fed. According to the industry monitoring system of the Federal Agency for Fisheries (Federal Service for Fisheries and Oceanography), the catch of aquatic bioresources by all Russian users amounted to alm...
 

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2024 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER