RESEARCH INSTITUTE FOR NORTH KOREAN SOCIETY | http://www.goodfriends.or.kr/eng | email:
[email protected] No. 175 July 2008 Heungnam South Hamgyong North Korea Haeju South Hwanghae <Image by Google earth> National Rice Prices Steady at 2,500~2,700 won per kg Without Regional Variations. Rice prices, which had gone all the way up to 4,000 won per kg in regions around North and South Hwanghae Provinces in late May, have been going down steadily since then and are now around 2,500 won per kg nationwide without too many regional variations. The rice prices were so unstable in late May that they would be different in the morning and evening of the same day. But they have been stabilizing throughout June and are now stable across the board in July. If you compare the prices of staple grains in major markets throughout the nation, rice’s prices are at 2,500~2,700 won and corn prices are 1,300~1,500 won without any overt regional variations. One of the reasons for the stabilization of grain prices was the psychological comfort that news of food imports from the United States and elsewhere had on the markets. Also, smuggling of food and small-scale imports from China have been coming in steadily since last month. External aid included 3,000 tons of flour from Russia and 37,000 tons of food from the U.S., as the 1st shipment of the promised 500,000 tons. As such, the grain prices are predicted to remain at a high but stable level, with the expectations that food from external sources will continue to come in.