Rice prices in North Korean markets have surged to a record high in July 2026. The spike follows a brief lull earlier this month, and it comes as the exchange rate climbs too amid expanding trade with China.
According to Daily NK’s regular survey of North Korean market prices, one kilogram of rice sold for 40,000 North Korean won in a Pyongyang market as of July 19. That is a 28.2% increase from the survey two weeks earlier. It is also the highest price recorded since Daily NK began tracking North Korean market prices in 2009.
On the same day, one kilogram of rice in Sinuiju, North Pyongan province, sold for 40,200 won. In Hyesan, Ryanggang province, it sold for 40,600 won. Both prices set new records in their respective cities.
Corn prices have also risen sharply over the past two weeks. One kilogram of corn sold for 13,400 won in a Pyongyang market as of July 19. That is up 21.8% from the previous survey.
The same day, corn sold for 13,500 won in Sinuiju and 13,700 won in Hyesan. That marked increases of 21.6% and 21.2%, respectively, from two weeks earlier.
Corn prices had spiked to 13,900 won per kilogram in early June. They stabilized in late June as the season’s new corn reached markets, but surged again starting in mid-July.
The rise in grain prices appears to be due to a combination of factors. These include falling grain imports and a shortage of substitute crops such as new corn, wheat and barley. The rising exchange rate is also a factor.
According to multiple sources, grain imports through customs checkpoints between North Korea and China have recently declined. A source who monitors North Korea from China said grain such as rice and corn now makes up a smaller share of goods crossing into North Korea. Machinery, equipment and construction materials account for more of the trade, the source said.
The shift may not stem from direct customs restrictions on grain by North Korean or Chinese authorities. Instead, North Korean trading companies may be prioritizing imports of machinery and construction materials, which would push grain further down the list.
Dollar and yuan rates climb
Amid the trade expansion, the exchange rates for the dollar and the Chinese yuan are also rising sharply. As of July 19, the market exchange rate for the U.S. dollar in Pyongyang stood at 65,000 won, up 8.3% from two weeks earlier. Similar increases in the dollar rate were recorded in Sinuiju, Hyesan and other regions.
The won-dollar rate in Pyongyang had climbed to a record 71,800 won in May. That came amid rising expectations for expanded trade with China. The rate then fell temporarily as border controls tightened ahead of a visit to North Korea by Chinese President Xi Jinping.
Trade between the two countries has picked up gradually since a North Korea-China summit last month. That has increased demand for foreign currency needed to settle trade transactions, pushing the dollar rate back up.
The exchange rate for the Chinese yuan has risen even faster than the dollar. The yuan is commonly used to settle trade in the North Korea-China border region. As of July 19, the won-yuan market exchange rate in Sinuiju was 10,230 won, up 14.7% from two weeks earlier. A similar rise was recorded in the border city of Hyesan.
Sources inside North Korea say the exchange rate is likely to keep rising as trade with China continues to expand. A higher exchange rate would push up the cost of imports. That could add further upward pressure on prices for major imported goods, deepening the cost of living burden felt by the North Korean people.
Reporting from inside North Korea
Daily NK operates networks of sources inside North Korea who document events in real-time and transmit information through secure channels. Unlike reporting based on state media, satellite imagery, or defector accounts from years past, our journalism comes directly from people currently living under the regime. We verify reports through multiple independent sources and cross-reference details before publication.
Our sources remain anonymous because contact with foreign media is treated as a capital offense in North Korea — discovery means imprisonment or execution. This network-based approach allows Daily NK to report on developments other outlets cannot access: market trends, policy implementation, public sentiment, and daily realities that never appear in official narratives.
Maintaining these secure communication channels and protecting source identities requires specialized protocols and constant vigilance. Daily NK serves as a bridge between North Koreans and the outside world, documenting what’s happening inside one of the world’s most closed societies.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: dailynk.com
