Rice prices in North Korean markets turned upward again in early October 2026, even as corn prices kept falling. The split shows how slowly this year’s rice harvest is reaching market stalls across the country. Freshly harvested corn is already flowing into markets, but the new rice crop has yet to arrive in large quantities.
A kilogram of rice sold for 43,500 North Korean won at a market in Pyongyang on Oct. 11, according to Daily NK’s regular survey of North Korean market prices, conducted every two weeks. It marked a 6.6% rise from the 40,800 won recorded at the same market on Sept. 27.
Rice prices are a closely watched barometer of food security and living costs in the North Korean economy. They climbed in other surveyed regions as well, rising almost in lockstep with the capital. In Sinuiju, North Pyongan province, a kilogram of rice fetched 43,700 won, up 7.4% from two weeks before. Rice in Hyesan, Ryanggang province, sold for 43,800 won on the same day, up 6.8%.
The autumn harvest is now underway across North Korea, but the new rice crop still needs drying and milling before traders can sell it. Market supplies are likely to stay tight until the harvest clears that process and reaches grain traders in volume.
Corn prices, by contrast, fell sharply over the same two weeks in all three surveyed cities. A kilogram of corn sold for 14,800 won at a Pyongyang market on Oct. 11, down 9.2% from 16,300 won. Corn prices in Sinuiju and Hyesan also fell 7.5% and 6.8%, respectively, over the same period.
The decline appears to stem from the growing supply of newly harvested corn reaching North Korean markets. Many North Koreans eat corn as a cheaper staple in place of more expensive rice.
The diverging trends have widened the price gap between the country’s two main staple grains. In Pyongyang, rice cost about 2.5 times as much as corn on Sept. 27. By Oct. 11, that ratio had grown to roughly 2.9 times in the capital.
Rice prices rise while the yuan slides after Party Foundation Day
Market exchange rates for the U.S. dollar and the Chinese yuan also moved in opposite directions over the two weeks. The dollar edged higher against the North Korean won, while the yuan fell by a relatively wide margin.
One dollar traded for 71,200 won at a Pyongyang market on Oct. 11, up 3% from two weeks earlier. Dollar rates in Sinuiju and Hyesan followed a similar pattern, rising modestly over the same period.
The yuan, on the other hand, weakened noticeably in North Korea’s border cities near China. One yuan traded for 11,340 won in Sinuiju and 11,320 won in Hyesan on Oct. 11. Those rates were down 5.8% and 6.1%, respectively, from the previous survey.
Taken together, the figures put the market cross rate at roughly 6.3 yuan to the dollar. That compares with about 5.75 yuan in late September, a sharp swing over just two weeks.
The main driver of the yuan’s decline appears to be a special security period declared by North Korean authorities. The period ran from Oct. 1 to Oct. 11 to mark Party Foundation Day on Oct. 10. The holiday commemorates the founding of the Workers’ Party of Korea in 1945 and is one of the country’s biggest political anniversaries.
During special security periods, North Korean security forces typically tighten border controls and step up inspections. They also restrict travel to prevent incidents around major anniversaries. Authorities halted official trade with China for the duration of this year’s security period, temporarily cutting demand for the yuan.
China is North Korea’s largest trading partner, and most bilateral trade is settled in yuan. As a result, any pause in cross-border commerce quickly weighs on demand for the Chinese currency. Traders in border cities such as Sinuiju and Hyesan rely heavily on the yuan for both official and informal deals.
The special security period has since ended, and North Korea-China trade has reportedly returned to normal. Whether the yuan rebounds as cross-border commerce resumes will be a key indicator to watch in the coming weeks.
This article was originally written in Korean and translated with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
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