Finance ministry checks mackerel distribution to curb price hikes

The finance ministry said Wednesday it inspected the storage and distribution of imported frozen mackerel at a Busan logistics center. A team led by Jang Do-hwan, head of the Civil Life Stability Support Group, visited the Suhyup Gamcheon Port Logistics Center to monitor how the zero-percent tariff is being applied.

Global supply conditions have tightened, with Norway's mackerel catch quota falling from 215,000 tons in 2024 to 81,000 tons this year. This shortage pushed import prices up from $2.8 per kilogram in 2025 to $5.0 in 2026.

Domestic production rose 46.8 percent in the first half of 2026 compared to a year earlier. The government has released 330 tons of stockpiled fish between May and July, allocated 9,800 tons of tariff-quota imports through July and plans to directly import an additional 1,200 tons from the UK and Norway.

Authorities require that tariff-quota goods be supplied to the market within 45 days of customs clearance. Since April, the state has strengthened oversight by imposing strict deadlines for moving goods out of bonded areas, with violations subject to quota cancellation and tax collection.

Industry representatives told officials that while the tariff cut helps offset rising import costs, they face challenges from the shrinking global catch. Distributors agreed to streamline processing and link discounts to promotions so consumers can feel the price stabilization effects.

"The fundamental purpose of the tariff quota system is to quickly deliver the benefit of tariff reductions through the distribution stage to the final consumers, thereby reducing the burden of grocery prices on the people," Jang said. He added that the government will work swiftly with relevant ministries to resolve field difficulties and ensure the public experiences stable prices.