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.

Dele Momodu     Lanre Jimoh     Kunle Akogun     Vasolar Consortium     Odo-Owa     Bamikole Omishore     Alfa Yahaya Road     Alore     Fatima Abolore Jimoh     Kwara Restoration Project     Abdulmajeed Abdullahi     Akanbi-Oke     Sulaiman Gado     Ladi Hassan     Muhammad Toyin Sanusi     Henry Olaosebikan     Roheemat Hammed     Majlis For Sadakah, Zakat And Waqf     Kwarareports     Al-Ilory     Bashir Badawi     Quran     IYA YUSUF     Sheriff Shagaya     Bank Of Industry     Facebook     Lanre Olosunde     Musa Abdullahi     Ilorin Likeminds Foundation     Abdulrasaq Alaro     Abdulfatah Ahmed     TESCOM 2025     Special Agro-Industrial Hub     ITEM 7     Owo Isowo     Wakilin Mata Lafiagi     IESA     Lithium Deposit     Javed Khan     National Democratic Congress     Centre For Peace And Strategic Studies     Raji AbdulRasaq     Bahago     Sheriff Olanrewaju     Ayinde Oki     Kwara State Coalition Of Business And Professional Associations     Azeez Bello     Kola Shittu     Sun Qing Rong     Kisira     Sa\'adu Salau     Road Transport Employers Association Of Nigeria     Baba Isale     Tunji Folami     Edu     Sola Saraki Educational Foundation     Idiagbon     Chartered Institute Of Personnel Management Of Nigeria     Jumoke Monsura Gafar     Saliu Oluwole     Otunba Taiwo Joseph     Yakubu Dogara     Arandun     Elerin Of Adanla Irese     Demola Banu     Abdullahi Saadudeen Alikinla     Aminu Ado Bayero     Yusuf Mubarak     Ibrahim Oloriegbe     Christopher Tunji Ayeni     Abubakar Olusola Saraki     KWSIEC     High Court     NIPR     COVID     Babatunde Idiagbon     Ilofa    

Cloud Tag: What's trending

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

Adanla-Irese     Babatunde Ishola Babaita     Ethical College     Joseph Yemi Ajayi     Olomu Of Omu-Aran     Naira Redesign     Mohammed Yahaya Barki     SWAN     Kwara Restoration Project     Alapado     KWAFFA     Yusuf A. Usman     Ile Arugbo     Ayoade Akinnibosun     Tescom.kwarastate.gov.ng     Post-utme     Saka Onimago     Mufutau Olatinwo     Ogidi-Oloje     Gafaru Olayiwola Olorisade     Bashiru Makama     Prince Sunday Fagbemi     Olatunji Ibrahim     Muhammed Aliyu     Afusat Nike Ibrahim     Hamza Usman     Oni Adebayo     Salihu Yahaya     Ojuekun Sarumi     Bayo Onimago     UNILORIN Alumni Association     Haliru Yahaya     Government Girls’ Day Secondary School Pakata     Kawu Baraje     Adedeji Onimago     Volunteers Of Ilorin Community And The Emirate     Hassan A. Saliu     Mufti Of Ilorin     International Public Sector Accounting Standards     Lai Gobir     Tayo Alao     Amina Susa\'a De Ahmed     John Olajide Adedipe     Idris Garba     Abdulmumini Jawondo     Hassan Saliu     Aisha Buhari     Yusuf Lanre Badmus     3MTT     GGDSS Pakata     Owo Arugbo     Amule     Garba Ayodele Wahab     Ministry Of Women Affairs And Social Development     Okasanmi Ajayi     Oloriegbe     Innocent Okoye     Taofeeq Olateju     Summit University     Chartered Institute Of Personnel Management Of Nigeria     Kwara Pdp     Bolaji Gambari     Shero     Paul Olawoore     Labour Party     Firdaos Amasa     Mahfouz Adedimeji     Matthew Okedare     Lukman Adeloyin     College Of Education     Adedipe     Adisa Logun     Javed Khan     David Adesina     Kayode Alabi     National Information Technology Development Agency     Aliyu U. Tilde