Eel Price Trend and Forecast 2026-2027

Japan paid the most for eel in Q3 2026: USD 34.00/KG, up 1.5% from USD 33.50/KG in Q2. Tight glass eel supply, high farm costs and steady demand from restaurants and retailers keep Japanese prices above the other three markets. Worldwide, the average rose 1.3% to USD 18.12/KG from USD 17.88/KG, mostly because higher glass eel and feed costs and firm demand from restaurants and retailers led farmers and processors to raise prices in all four markets. What about Q4 2026? We expect a global average somewhere in the USD 17.67-19.12/KG range, with glass eel catches, feed costs, demand from restaurants and retailers, and the summer and winter eating seasons in Japan doing most of the work.

Eel is a long, snake-shaped fish, mostly Japanese eel and European eel, that is farmed from wild caught juveniles called glass eels. It is sold live, split and grilled, frozen and as processed kabayaki, and it is eaten mainly in Japan, China, South Korea and Taiwan. Prices in this report refer to live farmed eel at the farm gate and are quoted per kilogram. They depend on glass eel catches, feed costs and demand from restaurants and retailers.

Eel cannot be bred in commercial volumes, so farms depend on glass eels caught in rivers and estuaries each winter. China is the largest producer, followed by Taiwan, Japan and South Korea. Farmers raise eels for 6 to 12 months in ponds or tanks, and processors grill and freeze them for export. Trade rules and catch limits on glass eels in Europe and Asia affect supply and prices.

Eel Price Forecast for 2026

Prices should rise modestly through the rest of 2026. Glass eel supply is tight and demand from restaurants and retailers is steady. Good farm output in China limits the size of the increase. Against USD 17.32/KG in Q3 2025, the current global average of USD 18.12/KG represents an increase of 4.6%.

For Q4, risks to the price are evenly spread. What could push prices higher? Poor glass eel catches, stricter trade rules, higher feed costs or strong demand during the eating season would lift prices. What could pull them lower? Larger glass eel catches, lower feed costs or weaker demand from restaurants would lower prices.

For the Quarter Ending September 2026

Eel Prices Q3 2026:

• China: USD 9.80/KG
• Taiwan: USD 11.20/KG
• South Korea: USD 17.50/KG
• Japan: USD 34.00/KG

Eel Prices in China

The Q3 2026 average for China stood at USD 9.80/KG, an increase of 1.6% on the USD 9.65/KG recorded in Q2. Chinese prices rose as the demand from restaurants and processors improved. This represents a 5.3% increase on the USD 9.31/KG recorded in Q3 2025. The gap to the four-market average of USD 18.12/KG was 45.9% below for China.

Why did the price of Eel change in Q3 2026 in China?

China rose. Demand from restaurants and processors improved, feed costs increased, and farmers raised prices. Across the first three quarters of 2026, China has moved up 3.7% from USD 9.45/KG in Q4 2025 to USD 9.80/KG, against a 3.2% gain for the global average. For comparison, the global average moved 1.3% higher over the same quarter.

Eel Prices in Taiwan

Taiwan registered a 1.3% increase in Q3 2026, taking the average to USD 11.20/KG from USD 11.06/KG in Q2. Taiwanese prices rose as the demand from export buyers improved. The year-on-year change is a 4.4% increase, from USD 10.73/KG in Q3 2025. Relative to the four-market average of USD 18.12/KG, Taiwan traded 38.2% below in Q3 2026.

Why did the price of Eel change in Q3 2026 in Taiwan?

Taiwan rose. Demand from export buyers improved, glass eel costs increased, and farmers raised offers. Year to date, Taiwan is 3.1% higher than the Q4 2025 level of USD 10.86/KG, while the global average is 3.2% higher. The global average shifted 1.3% higher in the same quarter. Taiwan moved 1.3% quarter on quarter.

Eel Prices in South Korea

South Korea gained 1.2% to USD 17.50/KG in Q3 2026, from USD 17.29/KG in Q2. Korean prices rose as the demand from restaurants improved. The Q3 2026 average is 3.8% above the USD 16.86/KG recorded in Q3 2025. This places South Korea 3.4% below the four-market average of USD 18.12/KG for Q3 2026.

Why did the price of Eel change in Q3 2026 in South Korea?

South Korea rose. Demand from restaurants improved, glass eel costs increased, and farmers raised prices. Over the first nine months of 2026 the price in South Korea has risen by 2.8%, which compares with a 3.2% gain in the global average. Across the four markets the average was 1.3% higher on the quarter.

Eel Prices in Japan

In Q3 2026, the average price in Japan rose 1.5% to USD 34.00/KG, compared with USD 33.50/KG in Q2. Japanese prices rose as the demand from restaurants and retailers improved. Compared with Q3 2025, when Japan averaged USD 32.40/KG, the current price is 4.9% higher. Against the four-market average of USD 18.12/KG, Japan stood 87.6% above in the quarter.

Why did the price of Eel change in Q3 2026 in Japan?

Japan rose. Demand from restaurants and retailers improved, glass eel costs increased, and farmers raised prices. Since the end of 2025, the price in Japan has risen 3.4%, from USD 32.87/KG to USD 34.00/KG, while the global average has risen 3.2%. On the global measure the average was 1.3% higher over the quarter.

For the Quarter Ending June 2026

Eel Prices Q2 2026:

• China: USD 9.65/KG
• Taiwan: USD 11.06/KG
• South Korea: USD 17.29/KG
• Japan: USD 33.50/KG

Eel Prices in China

In Q2 2026, the average price in China rose 1.3% to USD 9.65/KG, compared with USD 9.53/KG in Q1. Chinese prices rose as the demand from processors strengthened. The Q2 2025 average of USD 9.10/KG puts the current price 6.0% above its level a year earlier. In comparison with the average of USD 17.88/KG across the four markets, the price in China was 46.0% lower.

Why did the price of Eel change in Q2 2026 in China?

China rose. Demand from processors strengthened, feed costs went up, and farmers lifted prices. The 0.8% gain in Q1 set the base, and Q2 finished 6.0% above the USD 9.10/KG recorded a year earlier. Q3 added to the change, with the price at USD 9.80/KG. On the global measure the average was 1.1% higher over the quarter.

Eel Prices in Taiwan

Taiwan's average moved up 1.0% in Q2 2026, to USD 11.06/KG from USD 10.95/KG in Q1. Taiwanese prices rose as the demand from export buyers strengthened. Year on year, the average is 5.1% higher, against USD 10.52/KG in Q2 2025. Taiwan ended the quarter 38.1% below the group average of USD 17.88/KG.

Why did the price of Eel change in Q2 2026 in Taiwan?

Taiwan rose. Demand from export buyers strengthened, glass eel costs went up, and farmers lifted offers. This followed a 0.8% gain in Q1 and left Taiwan 5.1% above its Q2 2025 average of USD 10.52/KG. The move then extended in Q3, taking the price to USD 11.20/KG. For comparison, the global average moved 1.1% higher over the same quarter.

Eel Prices in South Korea

Prices in South Korea firmed 0.9% in Q2 2026 to USD 17.29/KG, compared with USD 17.14/KG in Q1. Korean prices rose as the demand from restaurants strengthened. The current level is 4.2% above the Q2 2025 average of USD 16.59/KG. The price in South Korea was 3.3% below the group average of USD 17.88/KG in Q2 2026.

Why did the price of Eel change in Q2 2026 in South Korea?

South Korea rose. Demand from restaurants strengthened, feed costs went up, and farmers lifted prices. After a 0.7% gain in Q1, the quarter closed 4.2% above the USD 16.59/KG recorded in Q2 2025. The same direction continued in Q3, with the price reaching USD 17.50/KG. The global average shifted 1.1% higher in the same quarter.

Eel Prices in Japan

Japan recorded a 1.1% gain in Q2 2026, with the average reaching USD 33.50/KG against USD 33.13/KG in Q1. Japanese prices rose as the demand from restaurants strengthened. A year earlier, in Q2 2025, the average stood at USD 31.66/KG, which makes the current price 5.8% higher. The gap to the four-market average of USD 17.88/KG was 87.4% above for Japan.

Why did the price of Eel change in Q2 2026 in Japan?

Japan rose. Demand from restaurants strengthened, labor costs went up, and farmers lifted prices. This came on top of a 0.8% gain in Q1, and the average ended 5.8% above its level of a year earlier, when it stood at USD 31.66/KG. Q3 added to the change, with the price at USD 34.00/KG.

Quarterly Eel Price Trends

Eel prices rose through 2025 and the first half of 2026 and rose again in the third quarter in all four markets. The global average moved from USD 16.66/KG in Q1 2025 to 16.97 in Q2, 17.32 in Q3 and 17.55 in Q4, then 17.69 in Q1 2026, 17.88 in Q2 and 18.12 in Q3, a net gain of roughly 8.8% across the window. Higher glass eel and feed costs and steady demand from restaurants and retailers lifted prices for six quarters.

What was Eel Price in 2025?

2025 was a year of steady increases for eel, with prices rising in each quarter in all four markets. Starting near USD 16.66/KG in Q1, the global average finished the year at 17.55 in Q4, a gain of about 5.3%. Higher glass eel and feed costs and steady demand from restaurants and retailers supported farmers throughout the year.

Eel Prices in China in 2025

In China, prices moved from about USD 8.91/KG in Q1 2025 to USD 9.45/KG by Q4, up roughly 6.1%. Chinese prices rose steadily as feed costs and demand from processors increased. Since the 2025 close of USD 9.45/KG, the price in China has moved up 3.7%, reaching USD 9.80/KG in Q3 2026.

Eel Prices in Taiwan in 2025

In Taiwan, prices moved from about USD 10.34/KG in Q1 2025 to USD 10.86/KG by Q4, up roughly 5.0%. Taiwanese prices rose gradually as glass eel costs and demand from export buyers increased. At USD 11.20/KG in Q3 2026, Taiwan stands 3.1% above its Q4 2025 close. The same regional pattern is carried into the quarterly analysis above, where the quarter-by-quarter figures can be traced.

Eel Prices in South Korea in 2025

In South Korea, prices moved from about USD 16.36/KG in Q1 2025 to USD 17.02/KG by Q4, up roughly 4.0%. Korean prices rose gradually as feed costs and demand from restaurants increased. The Q4 2025 close of USD 17.02/KG compares with USD 17.50/KG in Q3 2026, a 2.8% increase. The quarterly sections above show how the annual average developed over the year.

Eel Prices in Japan in 2025

In Japan, prices moved from about USD 31.01/KG in Q1 2025 to USD 32.87/KG by Q4, up roughly 6.0%. Japanese prices rose steadily as the labor costs and demand from restaurants increased. Relative to the end of 2025, the price in Japan is 3.4% higher at USD 34.00/KG. The quarterly breakdown above allows each stage of that path to be traced.

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We keep a continuous eye on eel prices wherever it is produced or consumed at scale, tracing causation through glass eel catches, feed costs, trade rules, water temperature and demand from restaurants and retailers. Our forecasts draw on production data, trade flows, input cost trends and demand indicators across all reporting regions, so subscribers see why a price moved and not just that it did. Need pricing data, bespoke market analysis, or procurement advisory? Reach out to our team.