A decline in the prices of fruit amid the economic crisis in Hyesan, North Korea

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In Hyesan in the Ryanggang province in North Korea, the markets are seeing a noticeable decline in prices for fruit that include both local as well as imported varieties. The decrease in price can be caused by the increase in supply which is a result of fruits coming more frequently from areas in the interior as well as China with lower costs during the season. In spite of the abundant supply of top-quality seasonal fruits such as apples, pears, and grapes with reduced costs sellers face difficulties due to the slow the sales. Due to the economic climate, consumers to prioritise their needs prior to purchasing fruit.

According to the report, the cost for a kilogram of domestically grown apple, pears and grapes are 5 USD, 7 USD and 22 USD in order to mark a reduction in comparison to the month before. Imported fruit has also experienced an increase in price in the past month, with apples and pears coming from China being sold in the range of 5 USD or 7 USD for a kilogram in addition to grapes priced with a price of 22 USD.

The decrease in sales of fruit is mostly due to diminished purchasing power of consumers, who are preferring staple food items over fruit. Market vendors are frustrated by the absence of sales noting the devastating consequences for their businesses. A vendor expressed concerns about the viability of their business as another complained about the un-sold inventory, expressing fears that the market will be unable to sell it in the near future, despite reports of worsening economic circumstances.

Source: Daily NK

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Source: The Plantations International Agroforestry Group of Companies