Rice Prices Drop in Kwara as Naira Strengthens

Date: 2024-04-19

As reported by TVCNews, the strengthening of the Nigerian Naira against the US Dollar is beginning to make waves in Kwara's bustling Mandate Market.

Notably, the prices of imported rice have seen a marked decline, offering relief to consumers. From #67,000 per 50kg bag just a week ago, the price has now dropped to between #52,000 and #54,000, reflecting the positive impact of the Naira's appreciation.

Mandate Market, a prominent trading hub in Ilorin, has historically been a vital source of various food items, particularly grains.

Traders at the market confirm the noticeable reduction in rice prices, attributing it to the recent upswing in the Naira's value against the Dollar.

However, while imported rice sees a price drop, locally produced staples such as beans, Garri, corn, millet, and Guinea corn maintain stable prices or experience slight increases.

This phenomenon is attributed to ongoing security challenges affecting local food production, underscoring the complex dynamics of Kwara's food economy.

 

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Muyiwa Oladipo Kanu     Waziri Yakubu Gobir     Ministry Of Women Affairs And Social Development     Muhammed Danjuma     NURTW     Third Estate     Yunus Oniboki     Rasaq Jimoh     Lucky Omoluwa     Alfa Modibo Belgore     Bola Magaji     First Lady     Ariyo     Ganmo Power Sub-Station     ITEM 7     Mopelola Abdulmaliq-Bashir     Justina Oha     Metro Park     Village Alive Development Association     Habeeb Abdullahi Al-Ilory     Muazam Nayaya     C2c@kwarastate.gov.ng     Ayobami Seriki     Ilorin Durbar     Abdulwaheed Musa     Sabi     Oye Tinuoye     Muhammed Abdullahi     Olokoba Abdullahi Ayinla     Mumeen Lah     Federal Road Maintenance Agency     MINILS     Erubu Oba Zubair     Neuropsychiatric Hospital     Yaman     Prince Bola Ajibola     Paul Odama     Chief Imam Of Ilorin     Muftau Akanbi Oke     Funmilayo Braithwaite     Bolakale Saka     Abdulkadir Remi Hawawu     Salaudeen Oyewale     AIT Ilorin     Ibrahim Abduquadri Abikan     Abdulkarim Adisa     Fatimoh Lawal     AGILE Programme     Amuda Bembe     Elewu     Abdulwasiu Bolaji Adeyi     Akanbi-Oke     Federal Allocation     Niyi Osundare     Samuel Adaramola     Lasiele Alabi Yahaya     Geri-Alimi Split Diamond Interchange     Olajumoke Monsura Gafar     Tunji Arosanyin     Damilola Yusuf     Toyosi Thomas     Mohammed Tunde-Jimoh     Dagbalodo     Kehinde Boyede     Hamid Bobboyi     Durosinlohun Atiku     Prince Mahe Abdulkadir     National Association Of Nigerian Students     Oba David Oyerinola Adedunmoye     Salihu Ajia     Joseph Daudu     College Of Arabic And Islamic Legal Studies     April 11     TIIDELab     Wahab Olasupo Egbewole     Oloriegbe     Emmanuel Bello    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Vishvas KOZ Tractors     Ilorin Durbar     John Kehinde Salako     Alfa Belgore     Oja-Oba     Mubarak Oladosu     David Oyedepo     Taofik Mustapha     Shaykh Luqman Jimoh     Ojo Isekuse     Alaaya     Atiku Abubakar     Sulaiman Gado     Special Adviser On Digital Innovation     Muhammed Abdullahi     KFA     Lasiele Alabi Yahaya     Segun Ogunsola     Sarah Alade     Aro Yahaya     Okiki     Ahmed Mohammed Rifun     Facebook     Saba Jibril     Omupo     Saheed Alakoso     Ogidi-Oloje     Kanu Agabi     Yoonus Lawal     Quarry Royal Valley     Share-Tsaragi     Shao     Shuaib Abdulkadir     Kayode Issa     Aliyu Muhammed     Iyabo Dupe Adekeye     Salihu Jibril Garbi     Olaiya Victor Mobolaji     African Democratic Congress     Hameed Oladipupo Ali     John Olobayo     Lucky Omoluwa     Ambassador Kayode Laro     Adesina Simon Sodiya     Omar Bolaji Gambari     Babata     Aliyu Kora-Sabi     Kumbi Titilope     Ibrahim Bio     Kayode Laro     Undergraduate Bursary     Joseph Bamigboye     Tunde Saad     Ibrahim Abdulqadir Abikan     Olabimpe Olani     Monthly Sanitation Exercise     Bola Olukoju     Ilorin Airport     General Hospital, Offa     Saka Abimbola Isau     Mazars Consulting     Abdulwaheed Musa     Ijagbo     Muhammad Yahya     Yusuf Mubarak     Temi Kolawole     Ajuloopin     NIRSAL     Aliyu Muhammad Saifudeen     Aminat Omodara     Victor Gbenga Yusuf     A.E. Afolabi     Umar Sanda Yusuf     Isaac Aderemi Kolawole     Wahab Kunle Shittu     Sulyman Buhari     Abdullahi G. Mohammad