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.

Sardauna Of Ilorin     Razak Atunwa     Mary Arinde     Mohammed Halidu     Third Estate     Abdulrazaq Akorede     Agbarigidoma     College Of Education     Timothy Olatunde Fadipe     Kayode Ibrahim     Ahmed Bayero     Olaiya Zuberu     Harrison Osauwagboe     Kunle Akogun     Riskat Opakunle     Tanke Flyover Bridge     Paul Odama     Eleja Taiwo Banu     Fatai Olodo     Daud Adeshola     Funmilayo Oniwa     Abdulrosheed Okiki     2023 Elections     Manzuma     Wahab Olasupo Egbewole     Lukman Oyebanji Fagbemi     Suleman Abubakar     Lola Olabayo     Olofa Of Offa     Marafan Shonga     KwaraLearn     Laduba     Wole Oke     Bello Oyedepo     Sun Qing Rong     Convocation Ceremonies     MATTA Girls Foundation     Mazars Consulting     Tunji Olawuyi     Olomu     Nigerian Supreme Council For Islamic Affairs     Sa\'adatu Modibbo-Kawu     Okasanmi Ajayi     Muslim Media Watch Group Of Nigeria     Eghe Igbinehin     Ibrahim Abiodun     Abubakar Abdulraheem     John Olajide Adedipe     Adijat Adebiyi     Mary Kemi Adeosun     Zaratu Umar     All Confederation Of Principals Of Secondary Schools     Iyabo Dupe Adekeye     Fatima Abolore Jimoh     Chemiroy Nigeria Limited     Sabo-Oke     Aliyu Salihu     Lukman Adeloyin     Onikijipa     Charcoal     Eghe Igbinehi     Public Holiday     Umar Bayo Abdulwahab     Ethical College     Wahab Egbewole     Kwara 2019     Haliru Yahaya     Jare Olatundun     Idiagbon     Kola Olota     Olusin Of Ijara Isin     NAWOJ     Economic And Financial Crimes Commission     Matthew Babaoye     Ronke Adeyemi     Tunde Mukaila Mustapha     Kwara Liberation Group    

Cloud Tag: What's trending

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

Abdulsalam Firdaous Amosa     Kwara 2023     QuickWin     Ilorin South Constituency     Yakubu Shaaba     HYPPADEC     Gbenga Adebayo     Bank Of Industry     NTA Ilorin     Yusuf Amuda Abubakar     Temi Kolawole     Adedeji Onimago     Hussein Olokooba     Bello Oyebanji     Surajudeen Akanbi     Kayode Issa     Bola Shagaya     Simon Sayomi     2023 Elections     Moses Afolayan     CLAY POT     Ubandoma Of Ilorin     Abdulhakeem Adelaja Amao     Naira Redesign     BECE     Arinola Fatimoh Lawal     Www.Kwarareports.com     Oba David Oyerinola Adedunmoye     Ladi Hassan     Shagari     Suleiman Mora Omar     Arandun     Saheed Alakoso     Turaki     Modibo Kawu     Aliyu Umar     Biliaminu Aliu     Aisha Buhari     Razaq Atunwa     EFCC     Balogun-Ojomu     Ezekiel Yissa Benjamin     Abdulraheem Olesin     Admiralty Villa     Akume     Lateef Ademola Olatunji     Kwara State Branch Of The National Library     Mohammed Ibrahim     Florence Saraki     Emmanuel Olatunji Adesoye     Sardauna     Idowu Aremu     Abdulhakeem Amao     Ibrahim Oloriegbe     Ibrahim Labaika     Oasis Muslim Care Foundation     Ilorin Central Mosque     Donatus Ejidike     Magaji Erubu     Kwara State Government     Yemi Osinbajo     Oba Mogaji Abdulkadir     Ajidagba     Kunle Akogun     UITH     Ojuekun     AGILE Programme     Ayobami Seriki     Taiwo Joseph     Lanre Olosunde     Valsolar Consultoria     Maryam Ado Bayero     Isaac Aderemi Kolawole     Ajibola Saliu Ajia     Academic Staff Union Of Universities     Neuropsychiatric Hospital     Iliasu