File photo: North Koreans hawk their wares at a street market in Hyesan, Ryanggang province. (©Daily NK)
Grain prices in North Korean markets continue to rise, making food prices in North Korea even higher than they were in May 2023, when grain prices peaked due to the border closure.
According to the Daily NK's regular survey of North Korean market prices, one kilogram of rice was being sold for 5,650 won in Pyongyang markets on May 26. This represents a 2.17% increase from the previous survey on May 12.
The price of rice in the market in Sinuiju, North Pyongan Province, has also risen to the same extent as in Pyongyang. On May 26, one kilogram of rice was traded for 5,700 won in the Sinuiju market, up 2.89% from two weeks earlier.
The upward pressure on rice prices was more pronounced in the market in Hyesan, Ryanggang Province, than in other areas. There, one kilogram of rice was selling for 6,800 won on May 26, up 4.61 percent in just two weeks.
Due to a recent surge in rice prices in Hyesan, the gap with the current Pyongyang price has widened to 1,115 won.
Rice prices have been rising in Ryanggang Province for some time due to low rice production and difficult distribution, but this is the first time that such a large difference in rice prices has occurred within North Korea outside of the border closure period.
North Korean authorities have set up grain warehouses around the country to supply and sell locally produced rice. The reason why the price of rice in Hyesan City has risen significantly compared to other areas is believed to be because Ryanggang Province's rice production is lower than other areas.
Meanwhile, rice prices in three cities (Pyongyang, Sinuiju, and Hyesan) have reached their highest prices so far this year. To make matters worse, the average price of rice in these cities at the end of May was even higher than last year, when prices peaked during the pandemic.
Relatedly, corn prices appear to be rising slightly in North Korean markets.
On May 26, a kilogram of corn was being traded for 2,800 won in the Pyongyang market. Considering that a survey on May 12 found that corn was being sold for 2,700 won, the price has effectively risen by 100 won in the past two weeks.
However, in markets in Sinuiju and Hyesan, the price of a kilogram of corn was the same as two weeks ago.
Currently, local trading companies import food for their own countries, and North Korean authorities have reportedly imported several thousand tons of wheat from Russia, but the market price of grain continues to rise, possibly because the amount of wheat imported is not enough to make up for North Korea's food shortage.
Moreover, the current market price of wheat is over 11,000 won per kilogram, far more than North Koreans pay for their staple foods, rice and corn, and wheat does little to stabilize the food supply.
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