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.

Olukotun Of Ikotun     20 Billion Bond     Rebecca Olanrewaju     Afeyin-Olukuta     Halimat Yusuf     Federal Polytechnic Offa     Saad Belgore     Temi Kolawole     Amina Susa\'a De Ahmed     Bayo Mohammed Onimode     Folorunsho Erubu     Oyun     Oke-Odo     Ghali Alaaya     Kayode Ishola     Okasanmi Ajayi     Maryam A. Garuba     Irepodun     Rafiu Ibrahim     Ibrahim Taiwo     Saadu Yusuf     Oloye     Talaka Parapo     Tunji Folami     Peter Amogbonjaye     Abdullahi Biffo     Suleman Abubakar     Mohammed Ghali Alaaya     Saliu Mustapha     Kwarareports     Orisa Bridge     Basit Olatunji     Akande Idowu Ayoola Muhammed     Olokoba Abdullahi Ayinla     Aiyedun     Babaita     Abdulrazaq Magaji     Majlis For Sadakah, Zakat And Waqf     Osi     Agor     Bello John Olanrewaju     Abdulrazaq Solihudeen     Muritala Awodun     Dasuki Belgore     Olusin Of Ijara Isin     Kulende     Maigida     Mohammed Ajia Ibrahim     Joshua Adeyemi Adimula     Agboola Babatunde     Sola Saraki University     Budo Egba     Mahmud Babatunde Baker     Oyawoye     Bahago     Assayomo     Stephen Fasakin     Standard Organization Of Nigeria     Opaleke Bukola Iyabo     Henry Olaosebikan     Charles Ibitoye     Tunde Idiagbon Road     Islamic Development Bank     Savannah Centre For Diplomacy, Democracy And Development     Share-Tsaragi     Wahab Issa     Summit University     Mufti Of Ilorin     Dumagi     Gobir     Isiaka AbdulRazaq     Arinola Lawal     Yahaya Seriki Gambari     National Information Technology Development Agency     Ahmad Belgore     Ahmed Shuaib Buranga     Eleyele    

Cloud Tag: What's trending

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

Kawu     Bola Shagaya     Sheu Ndanusa Usman     Kannike     Dan Masanin     07039448763     Kayode Yusuf     Shehu Jimoh     Lanwa     Jimba Babatunde     Kazeem Gbolagade     Adeola Abraham     Femi Oladiji     Inside Kwara     IESA     20 Billion Bond     Saad Omo Iya     Umaru Saro     Modibbo Kawu     Dele Belgore     Jaigbade Alao     Kola Adesina     Akande Idowu Ayoola Muhammed     Valsolar-Kwara Company Limited     TIC     Elerin Of Adanla Irese     Olaitan Buraimoh     Garba Ayodele Wahab     Fatimoh Lawal     Elelu     Shonga Farm Project     Bolaji Aladie     NYSC     Nurudeen Mohammed     Susan Modupe Oluwole     Moro     Sheikh Ridhwanullah El-ilory     Kayode Issa     Olabanji Orilonishe     Kola Shittu     Rotimi Oyedepo     Isau     KFA     Olusola Saraki     Saad Omo\'ya     NSCIA     Oniyangi     Akorede     Olaiya Zuberu     Owode Market     Abubakar B.M     Doyin Group     Hamidu Olowo     Ilorin Talaka Parapo     Magaji Erubu     International Public Sector Accounting Standards     Fatimat Saliu     Aremu Odolaye     Royal FM     Wasiu Onidugbe     Kwara Poly     Twitter     Osi     Gbemi Saraki     Garba Dogo     High Court     Moji Makanjuola     Olokoba     Ojo Isekuse     Fatai Garuba Labaka     Khadijat Ayoola Yusuf     Saka Balikis Kehinde     Bola Olukoju     Kwara State Council Of Chiefs     Saba Jibril     Abdulkareem Alabi     Www.Kwarareports.com