Tag Archives: Hyesan

Price instability in Hyesan

Rice & Iron team has been interested in the city of Hyesan for a long time. While rice prices in this border city are often higher than those in Pyongyang and Sinuiju, Hyesan has traditionally enjoyed lower price volatility relative … Continue reading

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July to July assessment, 2014

Last July, we provided an assessment of the yearly changes in rice prices and speculated on what the movements revealed about the market conditions in North Korea. In that article, we noted then that the nominal price of rice had … Continue reading

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Monetary stability and food security

Three North Korean cities are weathering the test of the lean season. According to Daily NK, rice prices in Pyongyang, Sinuiju, and Hyesan have remained below 4000 KPW/kg in the second week of May, falling slightly below what they had … Continue reading

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The worrisome decline in food consumption in 2013

One inevitably runs into a myriad of unknowns when researching any aspect of North Korea – we at Rice and Iron are certainly no strangers to inconsistencies in data. This post will quickly shed light on one such mystery. Conventional … Continue reading

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The Specter of Inflation: Soviet case study and a modern solution

Permit me to start this post with a disclaimer. One faces several problems when using historical analogies to analyze current phenomenons. Not least of all, there is the difficulty of extricating oneself from variables and trends derived from historical models … Continue reading

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Is there or Is there not reform in the DPRK? And some recommendations

Andrei Lankov is upbeat. He believes reforms are really underway in North Korea with agricultural yields to prove it. But don’t pop the champagne yet because Dr. Lankov is also wary of how the reforms will not go far enough … Continue reading

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Assessing Cause and Effect: Food price stability and the Korean People’s Won

Despite turbulence in the upper echelons of political power in Pyongyang, rice prices in North Korea proved remarkably stable at the end of 2013. This may be due to favorable farming conditions and the resulting increase in grain output that … Continue reading

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