Will the mackerel price keep increasing after August?. Mackerel is one of the most extensively consumed fish variety all around the world. Consuming this fish offers a wide range of health benefits because it packed with omega-3 fatty acids and a high amount of proteins. The price of mackerel was at a high level in 2019. How does the price trend shown in the first half-year and what will be in the next half year? Ocean Treasure will do a short summary of this product.
The main source of mackerel is from these countries: China, Norway, and Japan. The premium catch period is from September to November.
Market review
The export mackerel this year is higher than last year. There is a high demand in Japan, South Korea, China, Russia, Ukraine, and other south Asia countries for mackerel consumption. The offshore fishery of mackerel has decreased by 4.6% compared to last year. Even with the high demand, the price of mackerel still decreased by 12% for the last half-year. (12% based on the price of HGT).
Mackerel HGT
Market now
Since the stock of mackerel is less and less, the price rebound at the end of July and increased 4% in one month because the new catch just starts and the quantity is limit. In the new catch season, the volume of the fish increased. In this summer season, the water is 5 degrees higher than usual, which makes the mackerel HGT easy to be belly-broken. As a result, that will affect the grade of the product. Soft mackerel may cost more for the canned factory to process and also will descend the presentation of the canned products.
Check the Korea market as below:
In the last six years (from 2015 to 2020), the average import volume in July was about 1,282 tons, an increase of about 85% to the import volume of 2,377 tons in July this year. It’s a huge increase which makes the price back to an uptrend.
FIS Worldnews
Accumulated July imports were about 19,778 tons from Norway, 5,190 tons from Russia, 2,126 tons from China, 158 tons from Taiwan, and 90 tons from Japan.
from Union Forsea corp
Market in the future
Since in July 2020, the import volume of frozen mackerel in Korea was 2,377 tons, up 61% from 1,473 tons in the previous year, and the cumulative import volume in July was 27,396 tons, up 6% from the previous year’s 25,891 tons. (*data from Union Forsea Corp). The number will be great.
Autumn is on its way. It can cool the temperature of the water，which is positive for mackerel catch. Then the quality of the mackerel will be better after the end of September.
As the quality of the mackerel is getting better, the price of mackerel recently will increase for the Asia market. The price will be close to or even more than the price in early January this year, once the high-quality mackerel arrives. The peak purchasing of mackerel will be in October and November. At that time, the price will increase as demand changes. These demands are mostly from canned factory areas like Poland, Russia, and China. Since in these areas, the canned factories just boom recently.
Market trend 2020 January – July
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