{"id":4330,"date":"2019-09-18T16:24:52","date_gmt":"2019-09-18T07:24:52","guid":{"rendered":"http:\/\/www.01.asiapress.org\/rimjin-gang\/?p=4330"},"modified":"2019-09-24T12:35:41","modified_gmt":"2019-09-24T03:35:41","slug":"potatoes-market","status":"publish","type":"post","link":"https:\/\/www.02.asiapress.org\/rimjin-gang\/2019\/09\/society-economy\/potatoes-market\/","title":{"rendered":"Arduous Starch: Soaring Price of Potatoes Sees Anxious Poor Hoard Supplies and Panic Buy"},"content":{"rendered":"
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Potatoes being inspected at a market. Photographed in November, 2012, by ASIAPRESS<\/p><\/div>\n

According to a reporting partner in Hyesan, Ryanggang Province, the cost of potatoes began rising from August 17, two days after the anniversary of Korea\u2019s liberation from Japan. By August 20, the price of potatoes had soared from around 1,000 North Korean won to 2,000 won per kilogram.<\/p>\n

In North Korea, potatoes are cheaper than any grain. The country\u2019s poor eat potatoes as a staple and they are used commonly for side dishes. When the price of potatoes suddenly doubled, therefore, it resulted in turmoil at the markets.<\/p>\n

According to the reporting partner, \u201c2,000 won per kilogram is up there with corn- an exorbitant price [for potatoes]. With rice and corn prices also rising, some people were in a panic at the markets. In particular, poor people, those living hand-to-mouth, were frightened by the soaring potato prices and rushed to spend all of their money on rice.\u201d<\/p>\n

Ryanggang Province is the country\u2019s leading producer of potatoes. In mid-August, however, there were no fresh potatoes in circulation, with heavy rain causing damage to provincial roads and disrupting distribution of potatoes from southern regions. The reporting partner speculated that prices skyrocketed due to supply dwindling.<\/p>\n

As of September 12, however, the price of potatoes has fallen back down to 700 won per kilogram, with fresh potatoes once again making their way to market.<\/p>\n

But with potato prices returning to normal, why are consumers still hoarding supplies?
\nNext page : The reporting partner explains...<\/strong>
\nThe reporting partner explains, \u201cThere is no prospect of economic sanctions easing and anxiety is spreading from senior officials to the public about what will happen in the future. That is why we are so sensitive to even these small incidents.\u201d<\/p>\n

The price of potatoes has been rather high since last year. This wasn\u2019t always the case, though, as potatoes used to be quite inexpensive, with prices fluctuating between 350 to 450 won per kilogram, from late 2014 to April 2015. However, according to the ASIAPRESS Market Price Survey, prices steadily increased, doubling over the last 4 years.<\/p>\n

While the exact cause of the spike in potato prices is unknown, it can be speculated that the rise is due to markets receiving less supplies of potatoes since the establishment of large-scale starch processing plants. In addition, continuing economic sanctions have led to an increase in poverty and, in turn, an increase in demand for cheap potatoes. (Kang Ji-won)<\/p>\n

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