The global trade of frozen horse mackerel (Trachurus spp.) is navigating a complex landscape in 2026, marked by tightening supply in key fishing grounds against a backdrop of persistently high international demand, particularly from African markets. This dynamic is creating a favorable pricing environment for exporting nations while putting pressure on buyers to secure quotas.
Supply Constraints in Chile
One of the most significant developments in the first half of 2026 was the notable decline in landings in the Bio Bio Region of Chile, a crucial hub for horse mackerel exports. Data from the Chilean National Institute of Statistics (INE) indicated an 18.6% drop in fish landings for January 2026 compared to the same period in 2025, totaling 143,116 tons. This decrease was primarily attributed to lower catches of jack mackerel.
Despite this supply-side headwind, the logistical capacity for exports remains active. In June 2026, Talcahuano Terminal Portuario (TTP) successfully loaded 6,800 tons of frozen jack mackerel bound for Africa. The shipment, sourced from fishing companies Blumar and Landes and transported via the reefer vessel Callisto, represented the fourth such shipment of the season. This indicates that while overall catch volumes are down, the supply chain is still functioning to meet existing export commitments.
Namibian Quota Auction Highlights Value
Conversely, the Namibian fisheries sector demonstrated significant market strength in 2026. A government quota auction held on May 22, 2026, saw a massive oversubscription for horse mackerel, highlighting intense competition for access to this resource. Of the 11,037.11 metric tons of horse mackerel quota on offer, bids totaling 24,000 metric tons were received. This robust demand drove the weighted average price to N$3,650.
The auction results also revealed specific market preferences. Bidders showed a strong focus on the "Freezer" segment of the catch, underscoring the high export market demand for frozen grade product. The entire quota on offer was allocated, raising N$568.4 million for the state, with the sector demonstrating confidence in both the resource's value and Namibia's regulatory stability.
African and Regional Trade Flows
Trade data from 2026 confirms the pivotal role of African markets. While Chile continues to ship large volumes to the continent, intra-African trade is also vibrant. Namibia appears as a key supplier for other African nations.
Customs records show Namibian suppliers like Erongo Marine Enterprises and Ocean Floor Investments actively shipping frozen horse mackerel to buyers in Zambia, Zimbabwe, and South Africa throughout the first half of 2026. For example, Zambian buyer anchor innovations limited concluded multiple transactions for frozen horse mackerel with Namibian suppliers in early 2026, with each shipment typically weighing around 27,000 kg.
The strong demand from Africa is further evidenced by sourcing requests. In May 2026, a buyer from Burkina Faso put out a call for 100 tons of Atlantic frozen horse mackerel, specifically seeking sizes of 500-900g and 900g+, packed in 20 kg cartons. Similarly, a buyer from Kenya sought frozen horse mackerel in various size grades in the same month.
Outlook
The 2026 frozen horse mackerel trade is characterized by a seller's market. Reduced catches in Chile are likely to tighten global supply, potentially putting upward pressure on prices. This situation is advantageous for nations like Namibia, where quota auctions are proving highly lucrative. For importing countries, particularly in Africa, securing reliable supply and navigating price volatility will remain a key challenge. The market's health is evident not only in the high volume of shipments but also in the premium prices that buyers are willing to pay for guaranteed access to this vital protein source.
