Rice inflation in North Korea

Featured - July 12th, 2012
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The North Korean diet-staple has reached 5,000 NK won per kilogram, though it’s difficult to indicate what this means since the currency is not traded outside the country, Wall Street Journal reports.

Daily NK, run by opponents of the North Korean government, reported the inflation in the price of rice on Tuesday. Reports indicate it’s the first time the price level soared in “normal” conditions, a time without tension from international community or an international crisis. Rice was sold in several locations at around 3,000 won in April and rose to 4,000 won by May and June.

According to the Journal, North Korea has never produced enough food to feed its people and depends on foreign aid. It also imports rice from China. Favorable weather and increased use of fertilizer has pushed agricultural production in the country, but it still fall shorts of overcoming its chronic food shortage.