Norwegian Mackerel Prices in USD Hit New All-Time High

   In Week 38 of 2026 (September 14–20), the export price of Norwegian Atlantic mackerel (*Scomber scombrus*) reached its highest level since the second week of the year in NOK terms, while hitting a new all-time high in USD terms. The average FOB price for the "under-600g" size category approached 52 NOK/kg, approximately 10 NOK higher year-on-year. With the annual mackerel quota slashed by half to around 81,000 tonnes, supply-side tightness is directly reflected in pricing. During the same week, prices for frozen Atlantic herring rebounded while herring fillet prices continued to fall, marking a clear divergence in trends among these three types of pelagic fish.

1. "Under-600g" size approaches 52 NOK; nearly half of quota already caught
   In Week 38, the average FOB (Norwegian border) price for whole frozen Atlantic mackerel (under-600g size) rose another 1.9% week-on-week, approaching 52.00 NOK/kg (nearly 5.50 USD); in USD terms, the price rose 0.8% to set a new record, remaining about 10 NOK/kg higher than the previous year. Norway's 2026 mackerel quota stands at only around 81,000 tonnes-less than half of the 2025 level-with nearly 36,000 tonnes harvested by September 17. Export volume for the week was 3,700 tonnes; while this marked a slight week-on-week decline, it remained the second-highest weekly export volume of the year. By market, Japan led with 1,508 tonnes purchased at 51.81 NOK/kg, followed by South Korea (768 tonnes at 52.45 NOK/kg), Vietnam (467 tonnes at 50.45 NOK/kg), and the EU (295 tonnes at 50.33 NOK/kg). 

2. Surge in Large-Size Mackerel Supply; Divergent Purchasing Trends Across Japan, South Korea, and Vietnam

   Large-size mackerel (weighing over 600g) followed a distinct market trend. In Week 38, exports totaled 560 tonnes at an average price of 53.44 NOK/kg-a slight week-on-week decline of 1.4%-yet the export volume hit a high not seen since Week 39 of 2025, signaling an increase in the supply of large-sized fish. Market-wise, export prices to South Korea and the EU continued to climb, whereas prices for Japan and Vietnam retreated from the peaks observed in the fourth quarter of 2025. Norway's mackerel export volume contracted sharply year-on-year in the first quarter; amidst tight quotas and high price points, Japan-traditionally the largest buyer-is facing a test regarding its price tolerance.
   As of September 17, nearly 36,000 tonnes of Norway's 81,000-tonne mackerel quota had been harvested, approaching half of the annual total. Registered catches for Week 38 amounted to just 3,000 tonnes-with 2,500 tonnes contributed by Faroese and Icelandic vessels-at an average fish weight of 533g; strong winds constrained fishing operations. Regarding herring, the 94,344-tonne North Sea herring quota has been virtually exhausted, while nearly half of the 334,445-tonne spring-spawning herring quota has been utilized.