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.

Hydroelectric Power Producing Areas Development Commission     Special Agro-Industrial Hub     Amada Jidda     Kola Bukoye     Prince Bola Ajibola     Majlis For Sadakah, Zakat And Waqf     Aso-ofi     Simeon Sayomi     Ibrahim Mohammed     Adeola Abraham     James Kolo     Ilorin Central Mosque     Women For Change And Development Initiative     Aishat Sulu-Gambari     Sobi     Isau     Adamu Jemilat-Baki     Alfa Modibo Belgore     Abdulmumini Jawondo     GAMA     Alabere     Agor     Bilikisu Gambari     Student Learning Support Helpline     Abubakar Bature Sulu-Gambari     Kwara Apc     Elesie Of Esie     Saidu Yaro Musa     Florence Saraki     Abdulfatai Ahmed     Ademola Kiyesola     Sabitiyu Grillo     Adeniyi Ojo     Mamatu Abdullahi     Hauwa Nuru     Aminat Ahmed     Kwara 2023     Paul Odama     Ben Duntoye     Medview Airlines     April 11     Hausa     Iqra Books     Rapheal Ashaolu     Yakub Ali-Agan     Magaji Nda     Falokun-Oja     Saraki     Abdulganiyu Oladosu     Oluwatoyin Lukman     Iliasu     Police Commissioner     Garba Dogo     Okin Biscuits     Christopher Odetunde     Universal Basic Education Commission     Fareedah Dankaka     CLAY POT     Afusat Nike Ibrahim     Nigeria Association Of Women Journalists     Shehu Adaramaja     Mufutau Gbadamosi Esuwoye     Chartered Institute Of Personnel Management Of Nigeria     Abdulganiyu AbdulAzeez     Isa Aremu     Olatunji Moronfoye     Aisha Buhari     Abdulmalik Bashir Mopelola Risikatullahi     Kwara Polytechnic     Ahmed Saidu Rufai     Olusegun Adeniyi     Mohammed Yahaya Barki     Haruna Olawale Sulaiman     Mahfouz Adedimeji     Ifelodun     Sheriff Olanrewaju     Salmon Babatunde Salmon    

Cloud Tag: What's trending

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

Wasiu Onidugbe     Ahmed     Buari Edun     Dankaka     Facebook     KWSIEC     Galadiman Ngeri     Coronavirus     Zaratu Umar     National Information Technology Development Agency     Musibau Akanji     Gamji Members Association     COEASU     CCB     Share     Crystal Corner Shops     Ilorin South Constituency     Toyin Olayinka Tejidini     Sulyman Atolagbe Alege     Memunat Monsuma     Abdulquawiy Olododo     Gani Saadu     Alabe     Afeyin-Olukuta     Mahmud Ayinla Giwa     Temitope Ogunbanke     Bolaji Aladie     Bamidele Adegoke     Harafat E. Mukadam     Valsolar-Kwara Company Limited     Isau     Lanre Aremu     Salihu Yahaya     Kamaldeen Ajibade     Bolakale Kawu Agaka     Muslim Cementary     Olaitan Adefila     Mamatu Abdullahi     Aremu Bose Deborah     Matthew Okedare     Abdullahi Samari     Umar Sanda Yusuf     Oke-Odo     NNPP     First Lady     Amule     Muhammad Akande Olarewaju Odunade     Alapansapa     Abubakar Abdullahi Bata     Moro     Mohammed Abdulahi     Afusat Nike Ibrahim     Adegoke Bamidele     Ronke Adeyemi     Arca Santa     TVC Female National Debate     Taofik Mustapha     Abdulrasheed Lafia     Balogun Gambari     Oyeyemi Olasumbo Florence     Awili Pedro     Muhammed Mahe Abdulkadir     Rabiu Kwankwaso     Abdulfatai Ahmed     Ilorin Descendants Progressive Union     Saudat Abdulbaqi     Mustapha Olanipekun     Abdulazeez Arowona     Abdul-Rasheed Na\'Allah     Ashiru     Sodiya     Special Agro-industrial Processing Zone     Mufutau Gbadamosi Esuwoye     Standard Organization Of Nigeria     Balogun Fulani     Funmi Salau     Erin-ile