{"id":27158,"date":"2014-05-16T22:38:51","date_gmt":"2014-05-16T13:38:51","guid":{"rendered":"http:\/\/en.dailynk.com\/en\/?p=27158"},"modified":"2020-01-17T09:27:26","modified_gmt":"2020-01-17T00:27:26","slug":"market-prices-stable-despite-lean","status":"publish","type":"post","link":"https:\/\/www.dailynk.com\/english\/market-prices-stable-despite-lean\/","title":{"rendered":"Market Prices Stable Despite Lean Period"},"content":{"rendered":"<p class=\"MsoNormal\">Rice prices in North Korea remain stable despite the arrival of the April-May &#8220;spring hardship period,&#8221; inside sources have conveyed to Daily NK. <o:p><\/o:p><\/p>\n<p class=\"MsoNormal\">Spring months are usually tough because food supplies run low as North Korea, with its relatively low level of external trade in foodstuffs, waits for the early domestic potato harvest at the end of June. This in turn impacts market rice prices; in May 2012, the price of a kilo of rice skyrocketed by 20% in a single month. <\/p>\n<p class=\"MsoNormal\">However, this year has been a good one. Sources convey that a kilo of rice is trading in Pyongyang, Sinuiju and Hyesan for 3700, 3850 and 3900 won respectively. This is consistent with preceding<br \/>\nmonths, and below the 4000 won mark initially recorded last December. <o:p><\/o:p><\/p>\n<p class=\"MsoNormal\">The price of corn, often used as a cheap substitute by low-income households when rice gets expensive, is<br \/>\nalso showing a stable or downward trend.&nbsp;At 800-1000 won per kilo, it is 500 won less<br \/>\nthan it was in April.<\/p>\n<p class=\"MsoNormal\">Several factors are contributing to this relative stability,<br \/>\na Hyesan source contended.&nbsp; Firstly,<br \/>\nwork units on cooperative farms are bringing their stores of rice to market in<br \/>\nbulk payment for resources for the planting season. Secondly,<br \/>\nMay has seen a small decrease in the exchange rate, and this has helped to keep the rice price down in terms of imports.<o:p><\/o:p><\/p>\n<p class=\"MsoNormal\">\u201cIt\u2019s the spring planting season and work units have to<br \/>\npurchase resources like diesel and fertilizer. People say that \u2018rice<br \/>\nis money,&#8217; and now they&#8217;re selling rice they had stored from last year to<br \/>\npurchasing farming products. This means there is enough rice in the markets and<br \/>\nthe price is stable,\u201d the source said.<\/p>\n<p class=\"MsoNormal\">A Pyongyang-based source also reported stable market prices, as well as consistent state ration delivery in April.&nbsp;<\/p>\n<p class=\"MsoNormal\">\u201cThe authorities have been continually distributing rations<br \/>\nand there is sufficient rice in the markets. More people are buying meat including pork<br \/>\nbecause some laborers had a wage increase. The rice price could drop even<br \/>\nfurther,\u201d he assessed. &nbsp;<o:p><\/o:p><\/p>\n<p class=\"MsoNormal\">Nevertheless, experts in Seoul assert that rice prices could be negatively affected by current dry conditions in the country&#8217;s western breadbasket zones<o:p><\/o:p><\/p>\n<p class=\"MsoNormal\"><span style=\"background:white\">Cho Bong Hyun of the IBK<br \/>\nEconomic Research Institute<\/span> clarified to Daily NK, \u201cThe recent price<br \/>\nstability in North Korea\u2019s markets is because of continuous distribution since the release of military rice reserves last year. Expectations around this<br \/>\nyear\u2019s output could also impact prices further down the line. Some will plan to store rice if they anticipate<br \/>\nthis year being a lean one, which will in turn drive up the rice price.\u201d&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rice prices in North Korea remain stable despite the arrival of the April-May &#8220;spring hardship period,&#8221; inside sources have conveyed to Daily NK. Spring months are usually tough because food supplies run low as North Korea, with its relatively low level of external trade in foodstuffs, waits for the early domestic potato harvest at the [&hellip;]<\/p>\n","protected":false},"author":122,"featured_media":27160,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wikipediapreview_detectlinks":true,"footnotes":""},"categories":[645],"tags":[],"class_list":["post-27158","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v28.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Market Prices Stable Despite Lean Period - North Korea News \u2014 Daily NK | Latest DPRK Updates 2026<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dailynk.com\/english\/market-prices-stable-despite-lean\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Prices Stable Despite Lean Period\" \/>\n<meta property=\"og:description\" content=\"Rice prices in North Korea remain stable despite the arrival of the April-May &#8220;spring hardship period,&#8221; inside sources have conveyed to Daily NK. 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