Mackerel prices have soared to historic highs in 2025 as quotas were cut by more than a fifth. Fishermen are receiving record payments, but the future of the stock remains uncertain.
Prices at All-Time Highs
Mackerel is fetching record sums across the North Atlantic. In Norway, auction prices rose to nearly €3.5 per kilo for small fish in August, 54% higher than last year. Large “prime” mackerel touched €5.5 per kilo, more than double the levels seen only two years ago.
Related: Norway’s Fishermen Call for Tighter Mackerel Rules
Icelandic processors quoted up to €3.3 per kilo this summer. In the Faroe Islands, prices have nearly tripled since 2023, reaching over €2 per kilo. Everywhere, the same story holds: fewer fish, higher prices.
Quotas Down by 22%
Behind the price surge lies a sharp quota cut. In 2025, the Total Allowable Catch (TAC) for Northeast Atlantic mackerel was set at 576,958 tonnes. That is 22% less than last year.
Related: Mackerel in Crisis: Coastal States Deadlock Sparks Irish Warning
Norway’s share decreased from approximately 293,000 tonnes to 229,210 tonnes. The UK dropped to 203,211 tonnes, the Faroe Islands to 98,708, and the EU to 40,000 tonnes. Iceland and a few others share the rest.
For once, all major players accepted the cuts, after years of unilateral quota setting that had pushed catches far above the recommended levels. Scientists had warned that the stock had fallen from more than seven million tonnes a decade ago to less than three million today.
Landings Shrink, Values Surge
Landings are down across the board in 2025. Norway expects to land approximately 229,000 tonnes, the UK around 203,000 tonnes, and the Faroe Islands just under 100,000 tonnes. That is roughly one-fifth less than a year ago.
Related: Norway warns of overfishing as mackerel quota battle begins
Yet export earnings tell another tale. Norway’s mackerel exports in the first half of the year rose 56% in value, even though the volume dropped 18%. High prices are more than making up for lost catch.
Asian Appetite Drives the Market
Global demand is strong, led by Asia. Buyers in South Korea, Vietnam, Japan, and China are paying top prices for fatty fish used in sushi, canned products, and frozen trade.
Japan’s appetite for autumn mackerel, which has a high fat content, keeps a floor under global prices. South Korea and Vietnam are now the largest markets for Norwegian fish. Even as prices rose to record levels, these markets continued to buy.
The United States has also become a key outlet for larger mackerel, with imports of big fish from Norway up 83% this year.
New Access, Old Disputes
The Faroese fleet has gained better access to UK waters since 2024. The fish there are fattier and of higher quality, fetching better prices on the world market. Their 24,232-tonne quota in British waters alone was worth over €50 million last year.
But significant disputes remain unresolved. The Marine Stewardship Council still withholds its eco-label for North Atlantic mackerel. Without a lasting quota-sharing deal among all coastal states, the stock could face further decline. Industry groups warn that without cooperation, future cuts could be even harsher.
A Seller’s Market – For Now
For fishermen, 2025 has been a boom. Ex-vessel prices are at record highs, and for many, revenue has risen despite smaller quotas. The market has shifted almost entirely toward human consumption, with little fish being used for fishmeal.
But there are signs of strain. Some importers warn they cannot keep paying at current levels. If prices remain too high, demand may soften. And if stocks do not recover, the next round of quotas could bring even deeper cuts.
At the Crossroads
The mackerel fishery is now at a turning point. Strong prices reward fishermen in the short term. Yet the stock’s decline casts a long shadow. Whether 2025 marks the start of recovery, or just a pause before deeper trouble, depends on whether coastal states can finally agree on fair quota sharing and stick to it.
As one industry voice put it: “Mackerel is at a tipping point – balancing profit and protection is now the challenge.”
Read the full report: “2025 North Atlantic Mackerel Prices, Quotas, and Market Update” below 👇