{"id":56915,"date":"2023-12-15T16:37:05","date_gmt":"2023-12-15T07:37:05","guid":{"rendered":"https:\/\/www.dailynk.com\/english\/?p=56915"},"modified":"2023-12-15T16:37:10","modified_gmt":"2023-12-15T07:37:10","slug":"amid-imports-from-china-n-korean-rice-prices-continue-gradual-march-downwards","status":"publish","type":"post","link":"https:\/\/www.dailynk.com\/english\/amid-imports-from-china-n-korean-rice-prices-continue-gradual-march-downwards\/","title":{"rendered":"Amid imports from China, N. Korean rice prices continue gradual march downwards"},"content":{"rendered":"\n<p><span style=\"font-weight: 400\">North Korean rice prices, which had already been declining due to recent imports of food from China, are continuing their slow march downwards in December.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to Daily NK\u2019s regular survey of market prices, one kilogram of rice was selling for KPW 4,700 at one market in Pyongyang as of Dec. 10. This represents a slight drop from the price of KPW 4,740 recorded in the capital two weeks prior (Nov. 25).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Prices were similar in Sinuiju, North Pyongan Province, at KPW 4,720 per kilogram. This price represents a minor decrease of KPW 30 compared to Nov. 25 (KPW 4,750).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Hyesan, however, experienced a steeper drop in prices as rice fell from KPW 5,000 to KPW 4,830 per kilogram, a 3.4% decrease over a period of just two weeks.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This downward trend in prices has been more noticeable for commodities such as corn. Corn prices in Sinuiju, for example, fell from KPW 2,000 to KPW 1,900. Not only is this a 5% drop within two weeks, but it is also the first time that corn prices have dipped below the KPW 2,000 mark<\/span><span style=\"font-weight: 400\"> in over two years (since November 2021).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, corn prices in Pyongyang fell at a level similar to Sinuiju, and one kilogram currently sells for KPW 2,000.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As with rice, the decline in grain prices was particularly pronounced in the city of Hyesan. Corn prices in Hyesan fell 8.7% over the last two weeks, dropping from KPW 2,300 to KPW 2,100 as of Dec. 10.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The overall downward trend in grain prices can be attributed to a combination of both North Korean leader Kim Jong Un\u2019s increase in grain imports and the new crops entering markets following the conclusion of the fall harvest. <\/span><span style=\"font-weight: 400\">The steeper drop in prices in Hyesan compared to other regions is likely tied to the food imports passing through custom houses in Yanggang Province.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Daily NK <a href=\"https:\/\/www.dailynk.com\/english\/trade-vehicles-pass-through-hyesan-customs-house-once-or-twice-a-week\/\">reported <\/a><\/span><span style=\"font-weight: 400\">in late November<\/span><span style=\"font-weight: 400\">\u00a0that imports of rice, cooking oil, and other food products from China have been entering North Korea through the Hyesan customs house.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Imports passing through customs houses in Yanggang Province, North Hamgyong Province, and elsewhere along the China-North Korea border remain limited in volume, but a portion of these imports <\/span><span style=\"font-weight: 400\">appear <\/span><span style=\"font-weight: 400\">to have made their way into markets, leading to a fall in<\/span> <span style=\"font-weight: 400\">grain prices.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Even as grain prices have fallen in recent months, the<\/span><span style=\"font-weight: 400\"> KPW-USD exchange rate has been trending upwards since Septe<\/span><span style=\"font-weight: 400\">mber.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As of Dec. 10, the KPW-USD exchange rate in Pyongyang was KPW 8,500 to the dollar, a 1.2% rise compared to Nov. 25. The exchange rate rose a similar amount in other regions, including Sinuiju and Hyesan.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Demand for US dollars may be driven by internal indicators that trade is expanding in the new year. Earlier this month, Daily NK <\/span><a href=\"https:\/\/www.dailynk.com\/english\/n-korea-begins-issuing-visas-for-chinese-business-people-to-enter-the-country\/\"><span style=\"font-weight: 400\">reported<\/span><\/a><span style=\"font-weight: 400\"> that the North Korean authorities had begun issuing entry visas to Chinese traders, investors, and technicians.<\/span><\/p>\n<p><span style=\"font-weight: 400\">By contrast, the KPW-RMB exchange rate has been on a slow but steady decline. As of Dec. 10, the KPW-RMB exchange rate fell a consistent 1.6% across regions compared to two weeks prior. Daily NK\u2019s survey recorded the exchange rate at KPW 1,200 to the yuan in Pyongyang, KPW 1,210 in Sinuiju, and KPW 1,210 in Hyesan.<\/span><\/p>\n<p><em>Translated by Rose Adams. Edited by Robert Lauler.\u00a0<\/em><\/p>\n<p><em>Daily NK works with a network of sources who live inside North Korea, China and elsewhere. Their identities remain anonymous due to security concerns. More information about Daily NK\u2019s reporting partner network and information gathering activities can be found on our FAQ page\u00a0<a href=\"https:\/\/www.dailynk.com\/english\/faq\/\">here<\/a>.\u00a0\u00a0<\/em><\/p>\n<p><em>Please direct any comments or questions about this article to dailynkenglish@uni-media.net.<\/em><\/p>\n<p><em><a href=\"https:\/\/www.dailynk.com\/20231213-1\/#:~:text=%ED%95%9C%ED%8E%B8%2C%20%EC%A7%80%EB%82%9C%209%EC%9B%94%20%EC%9D%B4%ED%9B%84,)%EB%B3%B4%EB%8B%A4%201.2%25%20%EC%83%81%EC%8A%B9%ED%96%88%EB%8B%A4.\" data-type=\"link\" data-id=\"https:\/\/www.dailynk.com\/20231127-5\/\">Read in Korean<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>North Korean rice prices, which had already been declining due to recent imports of food from China, are continuing their slow march downwards in December.\u00a0 According to Daily NK\u2019s regular survey of market prices, one kilogram of rice was selling for KPW 4,700 at one market in Pyongyang as of Dec. 10. This represents a [&hellip;]<\/p>\n","protected":false},"author":128,"featured_media":40561,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67,645],"tags":[100,759,767,1656],"class_list":["post-56915","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news","category-economy","tag-markets","tag-china","tag-food","tag-dprk"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v28.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Amid imports from China, N. Korean rice prices continue gradual march downwards - 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\/amid-imports-from-china-n-korean-rice-prices-continue-gradual-march-downwards\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amid imports from China, N. Korean rice prices continue gradual march downwards\" \/>\n<meta property=\"og:description\" content=\"North Korean rice prices, which had already been declining due to recent imports of food from China, are continuing their slow march downwards in December.\u00a0 According to Daily NK\u2019s regular survey of market prices, one kilogram of rice was selling for KPW 4,700 at one market in Pyongyang as of Dec. 10. This represents a [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dailynk.com\/english\/amid-imports-from-china-n-korean-rice-prices-continue-gradual-march-downwards\/\" \/>\n<meta property=\"og:site_name\" content=\"North Korea News \u2014 Daily NK | Latest DPRK Updates 2026\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-15T07:37:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-15T07:37:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.dailynk.com\/english\/wp-content\/uploads\/sites\/2\/2019\/05\/\uc7a5\ub9c8\ub2f9\uc744-\uc9c0\ub098\ub294-\ud0dd\uc2dc.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"906\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Seulkee Jang\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Seulkee Jang\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/amid-imports-from-china-n-korean-rice-prices-continue-gradual-march-downwards\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/amid-imports-from-china-n-korean-rice-prices-continue-gradual-march-downwards\\\/\"},\"author\":{\"name\":\"Seulkee Jang\",\"@id\":\"https:\\\/\\\/www.dailynk.com\\\/english\\\/#\\\/schema\\\/person\\\/194958ce83d17408851c1d378fa83857\"},\"headline\":\"Amid imports from China, N. 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