Amid an expansion in North Korea-China trade, prices for food in Chongjin and Hoeryong’s markets are continuing to fall, with the prices of some food items falling close to their pre-COVID levels, a reporting partner in North Hamgyong Province told Daily NK on Monday, speaking on condition of anonymity due to security concerns.
Based on information provided by the reporting partner, the prices of food items like cooking oil, seasonings and eggs have recently been falling in markets located in the two cities.
In Chongjin’s Sunam Market, a kilogram of cooking oil cost KPW 15,500 as of Apr. 18. In short, cooking oil costs just KPW 4,000 more than it did prior to COVID-19, when a kilogram cost KPW 11,000. (Click here for the latest KPW-USD exchange rates)
A 450 gram packet of seasoning, which used to cost KPW 13,000 prior to COVID-19, now costs KPW 19,200, while a kilogram of eggs costs KPW 15,000. As there are about 15 or 16 eggs in a kilogram, each one costs about KPW 937-1,000, which is actually cheaper than before COVID, the reporting partner said.
In Hoeryong’s markets, a kilogram of cooking oil cost KPW 15,000 as of Apr. 18, while 450 grams of seasoning cost KPW 18,900. By comparison, cooking oil cost KPW 11,000 before COVID-19, while 450 grams of seasoning cost KPW 14,000.
Eggs cost KPW 13,000 a kilogram, or about KPW 870 per egg, which was also cheaper than before COVID-19.
Despite market prices for various food items falling to what they were prior to COVID-19, market sellers are still struggling to make money because nobody is buying enough of what they are selling, the reporting partner said.
“If a lot of smuggling activities were going on, the markets would fill up with goods and sellers could make money. However, because much of the trading these days is occurring under the purview of the government, business people are having a tough time making money. The fall in food prices has made it possible for people who couldn’t have even thought about buying food to buy what they can, but because they buy so little, sellers can’t earn enough to eat.
“Nowadays, people complain that it doesn’t matter if prices come down because they have no money. They’re also saying that even if prices continue to fall, it won’t make a difference unless individuals are once again free to make money. In these circumstances, smugglers have recently been trying to find new ways to make money by calling on cadres they know at trading companies.”
Translated by David Black. Edited by Robert Lauler.
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