Japan's mackerel prices soar as weak yen and shrinking Norwegian catches tighten supply
Imported mackerel prices in Japan have more than tripled over five years, driven by a soft yen and reduced Norwegian quotas, making the fish unaffordable for many consumers.
Japan's staple fish, mackerel, has become increasingly expensive as import prices surged to 885 yen per kilogram in May, more than threefold the level five years prior. The price hike reflects a combination of a depreciating yen, which pushes up dollar-denominated purchases, and Norway's steep cutbacks to its catch quota, projected to fall to about 79,000 metric tons in 2026. Competing buyers from South Korea, Eastern Europe and Africa are further tightening the market.
Domestic mackerel harvests have collapsed from roughly 370,000 metric tons in fiscal 2020 to about 80,000 metric tons in fiscal 2024, adding pressure on local supply. Seafood processors are seeing a rise in bankruptcies, with 46 cases recorded in 2025 and another 29 between January and July 2026, according to Teikoku Databank. Industry insiders warn that continued high prices could push mackerel out of everyday meals and into niche retail sections.
