N. Korean state orchestrates lower prices for soybean oil, sugar
State interventions in the market has led to price drops for some commodities in North Korea’s local markets, while other commodity prices remain higher than before the shutdown of the Sino-North Korean border in late January, Daily NK has learned.
Daily NK sources reported that imported sugar, which was sold for KPW 6,500 per kilogram at the start of the coronavirus outbreak, now costs KPW 5,500 per kilogram after North Korea ordered sugar distributors to release their stocks into the market.
Soybean oil prices have also reportedly fallen after the state ordered distributors to increase their supply to the markets.
“Sugar and soybean oil now cost a bit less than they did a couple days ago. People are feeling better about that,” a source in North Hamgyong Province told Daily NK on Feb. 19. ......