Commodity prices in some of North Korea’s markets have been falling recently, Daily NK has learned. A source told Daily NK that there are an increasing number of business people at markets who are trying to quickly sell off their goods because of rumors that the authorities are intervening with price controls.
The source, who is based in North Hamgyong Province, told Daily NK that rice at the Sunam Market in Chongjin was selling for KPW 4,500 a kilogram until falling to KPW 4,050 as of Mar. 18, while corn had fallen from KPW 2,800 to KPW 2,300.
The source also reported that cooking oil, which had been selling for KPW 32,500, is now just KPW 28,000. Even sugar, which was selling for KPW 48,000, is now selling for just KPW 45,000.
There have also been items whose prices have fallen by half. Soybeans have gone from selling at KPW 8,000 to just KPW 4,800, while sailfin sandfish has gone from KPW 2,000 to KPW 1,150. Grilled atka mackerel, meanwhile, has gone from KPW 4,000 to just KPW 2,450.
The source told Daily NK that there are rumors that the authorities are “readjusting the upper limits of [commodity] prices.” ......
[Source: Daily NK]
