Only a handful freshwater fish species are still commercially sought after in Sweden. Subsistence fishing in lakes and rivers is also rare nowadays and has in general been replaced by recreational fishing. However, fishing for European smelt, Osmerus eperlanus (L.), once popular in many areas of central Sweden, has survived into the twenty-first century, particularly in the province of Värmland, as a minor, but interesting regional food speciality. It is a dish with character, since smelt has a very particular scent and it is therefore esteemed by some and rejected by others. Nowadays, it is eaten locally, especially by the elder generations, and attempts to popularize it as a regional food have so far failed. However, smelt deserves to be marketed as a regional culinary specialty, and has great potential to become popular among modern foodies. A traditional dish known as “smelt pancake” can be promoted. Interesting enough, there are new categories of smelt enthusiasts that have discovered the possibility of fishing in large numbers in spring, especially Thai and other immigrants. There are also a significant numbers of sojourners and visitors from the Baltic States, especially Lithuanians, fishing for smelt in Värmland.