North Korea’s market rice prices fall as yuan exchange rate plunges
Rice prices in North Korea’s informal markets, known as jangmadang, continued falling in September 2026 after a stretch of national holidays boosted grain supplies and eased demand. According to Daily NK’s regular survey of North Korean market prices, a kilogram of rice sold for 41,100 North Korean won in one Pyongyang market as of Sept. […]
Rice prices in North Korea's informal markets fell in September 2026 after a series of national holidays increased grain supplies and decreased demand. A kilogram of rice sold for 41,100 North Korean won in one Pyongyang market, down 8.9% from the previous survey on Aug. 30. Similar declines were seen in Sinuiju and Hyesan. Corn prices also dropped, with a kilogram costing 16,700 won in Hyesan, down 7.2%.
The 4% to 9% decline in grain prices is attributed to the extra supply around the regime founding anniversary and Chuseok harvest holiday. The arrival of freshly harvested corn also contributed to the drop in grain prices. Meanwhile, the yuan exchange rate dropped sharply compared to the dollar, falling 12.5% over the same period.
Some North Koreans argue the yuan is overvalued, describing the decline as a correction to rebalance the relative value of the dollar and the yuan.
Written by urgent.news from Daily NK's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
