As the end of the year draws to a close and the review of the 200-Day Battle fast approaches, market prices and exchange rates in Pyongyang are reportedly rising in unison. Although rice prices fell to 4,000 KPW during the harvest and threshing period in early November, they are now said to be on the rise.
A source in Pyongyang told Daily NK on November 27 that the rice price had held steady at 5,000 KPW at the beginning of the month, but has now risen to 5,500 KPW. In provincial areas like Pyongsong and Hamhung, exchange rates for the dollar and yuan have also risen, as well as the price of certain goods. Gasoline (1 kg) in Pyongyang is currently trading at 8,550 KPW (a rise of 350 KPW), while diesel (1 kg) is trading at 6,100 KPW (a rise of 300 KPW).
“Earlier this month, the exchange rate for the dollar traded by merchants in Pyongyang was 8,100 KPW, but it recently rose to 8,250 KPW. The exchange rate for the yuan is 1,250 KPW, which rose by 40 KPW. Residents are expecting that the rates will continue to rise,” she said.
In the Moranbong and Sosong districts of Pyongyang, one kilo of rice is currently selling at 5,450 KPW, and one kilo of pork is selling at 14,000 KPW, a rise of 1000 KPW. One kilo of sailfin sandfish is also being sold at 3,500 KPW, a rise of 500 KPW.
“Some women are sarcastically commenting on the rising prices of pollack and sandfish, due to claims by the state-run Rodong Sinmun that there has been an abundance of fish for the people,” she added.
“The grain prices are expected to further rise because all major government organizations including the Korean Workers’ Party, the General Federation of Trade Unions of Korea, and the Korean Socialist Women’s Union [formerly the Korean Democratic Women’s Union] will hold a year-end assessment ceremony,” added a separate source in the capital.
“Considering that the celebration event for the 200-Day Battle will be held next month, residents are expecting further price rises. They are highly sensitive to even slight changes in the rice price, as they have already spent much on winter preparations.”
