The Easter Turmoil Has Subsided, And Norwegian Mackerel Prices Remain High Despite A Decline

Latest market information shows that the short-term disruptions caused by the Easter holiday are subsiding. Export prices for Norwegian mackerel, whole herring, and herring fillets all saw a decline in the 15th week of 2026 compared to the previous week, with weekly export volumes recovering accordingly. Although prices have fallen, they have not returned to pre-holiday levels, and overall mackerel prices remain significantly higher than the same period last year.

Mackerel has been the most closely watched sector in this round of fluctuations. Weekly data from the Norwegian Seafood Council shows that the price of whole frozen mackerel weighing less than 600 grams jumped by 14% in the 14th week. Although it declined in the 15th week, the average price remained roughly the same as before. Exports recovered to over 800 tons during the same period, a significant increase from the previous week, but due to already low marketable inventory at Norwegian companies, overall supply remains tight.

Year-on-year, the price difference is even more pronounced. In the 15th week of 2025, Norway exported 2,050 tons of mackerel at an average price of 29.91 NOK per kilogram; by the 15th week of 2026, the EU market alone imported 407 tons, with an average price of 49.30 NOK per kilogram. Whole mackerel weighing over 600 grams also remained high, with an average price of 53.08 NOK per kilogram in the 15th week, a week-on-week increase of 8.7%.

The persistently high prices have begun to weigh on the purchasing power of major buying markets. In March, Norway's mackerel exports totaled 7,200 tons, a year-on-year decrease of 45%; however, the export value was 370 million NOK, a year-on-year decrease of only 14%. The decline in volume far exceeded the decline in value, indicating that high prices are still supporting export revenue. The Norwegian Seafood Council pointed out that the 2025/26 fishing season's Norwegian mackerel landings will be only 183,000 tons, a year-on-year decrease of 44%, with insufficient supply being the core support for the current market situation. South Korea is the largest market for Norwegian mackerel, and its shipments this year have so far far exceeded those of Vietnam, but concerns about high prices are rising there.

Herring prices showed a slightly different trend. Whole frozen herring export prices fell 6.9% week-on-week in week 15, after reaching a high since the third week of 2026 the previous week. Week 15 exports totaled approximately 1,200 tons, a significant recovery from the previous week's low volume. According to data from the Norwegian electronic auction platform, as of April 15, only 102 tons of the 80,700-ton annual quota for North Sea herring had been caught, and 156,700 tons of the 342,700-ton annual quota for Norwegian spring spawning herring had been caught. The fleet shifted more towards blue hake that week, and the herring supply was not fully ramped up.

Herring fillet prices remained relatively stable. Week 15 prices only fell slightly by 0.25%, remaining above 24 Norwegian kroner per kilogram. Weekly sales exceeded 2,000 tons, making it one of the stronger weeks this year. In comparison, Norway's herring slice exports in the 15th week of 2025 were only 560 tons, with an average price of 23.68 Norwegian kroner per kilogram, making this year's transaction volume significantly larger.

Monthly data provides a clearer picture of this divergence. In March, Norway exported 27,600 tons of herring, valued at 459 million Norwegian kroner, representing a 20% year-on-year increase in value and a 39% year-on-year increase in volume, marking the highest March export value on record. The Norwegian Seafood Council believes that a good winter catch, coupled with increased quotas for spring-spawning herring, is driving increased exports and lower prices. Compared to herring, mackerel has not yet reached a truly relaxed stage; the post-holiday price correction is more of a short-term adjustment than a complete recovery in supply.