North Korea | Dictatorship Implements Rice Price Controls
North Korea’s authoritarian regime is attempting to cap rice prices after a sharp food price surge, but the policy is making the shortage worse. According to Daily NK, the regime ordered local officials to stop street vendors from selling rice above a state-imposed ceiling. This action was in response to rice prices rising above 30,000 North Korean won ($33.33) per kilogram. Officials and undercover agents are now inspecting markets, checking sellers’ account books, and confiscating rice from those accused of charging too much. Traders are responding by pulling rice from public stalls and selling it privately from homes or other hidden locations. For North Koreans, the state’s actions make rice harder to find and more expensive. FinancialFreedomReport.org
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