North Korea's food prices rise, suggesting supply shortages
The report by 38 North released on Friday added to recent concerns of food shortages in the reclusive country, which has faced economic hardship from sanctions and self-imposed Covid-19 border restrictions, Yonhap News Agency reported on Saturday.
Food prices in North Korea have increase to higher than the pre-pandemic levels, suggesting supply shortages, a US website monitoring the country has said. The report by 38 North released on Friday added to recent concerns of food shortages in the reclusive country, which has faced economic hardship from sanctions and self-imposed Covid-19 border restrictions, Yonhap News Agency reported on Saturday.
"The overall picture suggests that market prices, since the onset of the Covid-19 pandemic, and the resulting border closure by the North Korean government, have moved to a consistently higher level, which indicates that the country`s overall food supply is lower," the report read.
Also Read: PM Modi ends US visit with a ringing endorsement of Biden
It found that prices for rice and corn in the country began to increase in October 2020 after it closed its borders in January that year to prevent the spread of Covid-19, citing price data gathered by Rimjingang, an online news outlet with sources inside North Korea.
"None of this is evidence of widespread famine in North Korea," the report read.
"Nevertheless, the fact that the country is experiencing a significant food shortage seems beyond doubt."
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
IPL Auction 2025 Free Live Streaming: When and where to watch Indian Premier League 2025 mega auction live online, on TV, Mobile Apps, and Laptop?
SIP vs PPF: How much corpus you can build in 15 years by investing Rs 1.5 lakh per year? Understand through calculations
SBI Senior Citizen Latest FD Rates: What senior citizens can get on Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh investments in Amrit Vrishti, 1-, 3-, and 5-year fixed deposits
12:49 PM IST