North Korea rice prices hit 17-year high as corn costs surge

North Korea witnessed its highest rice prices since 2009 in mid-August 2026, according to market surveys by Daily NK. Corn prices also surged faster, leading to a heavier burden on low-income households. The 2009 currency redenomination wiped out much of the population's savings, serving as a reference point for measuring price increases.

A kilogram of domestically produced rice sold for 46,000 North Korean won in a Pyongyang market on August 16, up about 4% from the previous week. The price had surpassed 47,000 won per kilogram, the highest since the 2009 reform, for the first time. Rice prices have risen roughly 160% in just eight months. Corn prices, a cheaper alternative for low-income households, jumped 15.1% to 17,500 won per kilogram in Pyongyang and 16.3% to 17,800 won per kilogram in Hyesan, more than tripling since the beginning of the year.

The sharp increases are attributed to a seasonal supply decline and a less-than-expected harvest. As corn prices rise, food options for North Koreans are narrowing further. Foreign currency exchange rates in North Korea's markets have also diverged, with the Chinese yuan appreciating more than the US dollar. The yuan's rate rose by double digits to a record high, while the dollar's rate only experienced a slight increase.

North Korea heavily relies on trade with China, and the rising yuan could increase the cost of imports. Rising food prices are expected to intensify financial strain on North Korean people in the coming period.