DPRK rice price up

According to Yonhap:

The price of rice in North Korea has risen constantly over the past six months, reaching as much as 2,400 North Korean won (US$17.18) per kilogram early this month, South Korea’s Unification Ministry said Friday.

After falling to as low as 1,400 won per kilogram, rice prices started to increase in April and reached between 2,200 and 2,400 won by early this month, according to the ministry, which handles inter-Korean affairs.

Here is a compendium of stories about thie DPRK’s alleged food shortage and food aid this year.

Read the full story here:
Price of rice in N. Korea rises over past 6 months: ministry
Yonhap
2011-9-23

This entry was posted on Friday, September 23rd, 2011 at 6:49 pm and is filed under Fiscal & monetary policy, Food, General markets (FMR: Farmers Market), Price liberalization. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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Homer Williams

This must be using the official exchange or PPP rate. According to the graph in DailyNK, the dollar exchange rate has been running between 2540 to 2900 NKWon in the cities it surveys. This would put the price of rice at less than $1/kilogram. For graphs and tables see: http://www.dailynk.com/english/market.php.

Please note that the rice prices on the page referenced above are reasonably close to those cited by the Unification Ministry.

North Korean Economy Watch

DPRK rice price up