Photo: Union Forsea Corp

South Korea's Frozen Herring Imports See Sharp March Increase Despite Overall Q1 Dip

SOUTH KOREA
Monday, April 21, 2025, 05:00 (GMT + 9)

Russian Dominance Continues as Monthly Volume Surges 114% to 716 Tons, Valued at USD 510,000, Though Average Prices Decline.

South Korea's imports of frozen herring experienced a significant surge in March 2025, reaching 716 metric tons. This represents a substantial 114% increase compared to the 335 tons imported during the same month last year. However, despite this monthly spike, the cumulative import volume for the first quarter of 2025 (January to March) totaled 4,882 tons, marking a 41% decrease from the 8,227 tons recorded in the corresponding period of 2024. Herring constituted approximately 2.1% of South Korea’s total seafood imports (234,669 tons) in Q1 2025.

Russia overwhelmingly dominated the supply of frozen herring to South Korea in Q1 2025, accounting for 4,829 tons, or 99% of the total imports. Norway followed distantly with 48 tons, and Myanmar supplied 5 tons. The average import price for herring originating from Russia was USD 0.87/kg (approximately KRW 1,247/kg), while Norwegian herring was priced higher at USD 1.35/kg (approximately KRW 1,935/kg). The overall average import price for frozen herring decreased to USD 0.87/kg (approximately KRW 1,247/kg) in March 2025, a 4% decline from USD 0.91/kg (approximately KRW 1,304/kg) in March 2024.

In terms of value, the total import value for frozen herring in March 2025 reached USD 510,000 (approximately KRW 731.8 million), a 51% increase from USD 340,000 (approximately KRW 487.6 million) in March 2024. However, the cumulative import value for the first quarter of 2025 amounted to USD 4.24 million (approximately KRW 6.08 billion), representing a 43% decline compared to USD 7.46 million (approximately KRW 10.7 billion) in the same period last year.

The South Korean market for frozen herring continues to exhibit a strong reliance on supplies from Russia, with price competitiveness and the stability of the Russian supply chain appearing to be key factors influencing the observed import trends.

As a market reference, wholesale prices for Russian frozen herring in Korea are currently around KRW 29,500 (approximately USD 20.6) per 13kg pack for fish sizes exceeding 27 cm.

Source : Union Forsea Corp

[email protected]
www.seafood.media

Print