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.

Kamaldeen Ajibade     Kwara NIPR     Shururat Olatinwo     Nigerian Supreme Council For Islamic Affairs     Rice Farmers Association Of Nigeria     Tanke Flyover Bridge     Alfa Yahaya Road     Baba Adini Of Kwara State     Oloruntoyosi Thomas     Kamoru Kadiri     Alanamu     Abdulkadir Jimoh     Abdulmajeed Wahab     IQRA College     Oluwarotimi Boluwatife Adenike     Rachael Obisesan     Daud Adeshola     Rafiu Ibrahim     ASKOMP     Toyin Sanusi     Jide Ashonibare     Sobi Hill     Patigi Regatta     Olatunde Michaels     Kola Ologbondiyan     Aro Yahaya     Oloyede     Amusa Bello     Umar Saro     Baba Issa Awoye     Salaudeen Oyewale     Adijat Adebiyi     PPS     Raji AbdulRasaq     Sheikh Ridhwanullah     Sobi     Akom Construction And Engineering Synergy Ltd     Olayinka Oladapo Jogunola     Chief Imam Of Offa     College Of Health     11th Galadima     Ibrahim Oniye     Joseph Bamigboye     ANCOPPS     Abdulfatai Baakini     Yakubu Dogara     Bukola Ajikobi     Laduba     Yusuf Lawal     Moremi High School     Yahaya Abdulkareem Babaita     Susan Modupe Oluwole     General Hospital, Ilorin     Marufat Oladosu     Abubakar Baba     Federal College Of Education (Special), Afon     Alabere     Ariyo     Elerin Of Adanla Irese     Arinola Fatimoh Lawal     Babatunde Ajeigbe     Dasuki Belgore     Akanbi-Oke     Oniwa     JUSUN     Opolo Global Innovation Limited     Isaac Aderemi Kolawole     Saba Mamman Daniel     Alabi Lawal     Otunba Taiwo Joseph     UNILORIN Alumni     Oloye     Emir Of Yashikira     Kamaldeen Kehinde     Sun Qing Rong     General Hospital     Emir Of Lafiagi    

Cloud Tag: What's trending

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

Mahe Abdulkadir     Moshood Mustapha     Salihu Yahaya     Katibi Ibraheem Adeola     Aishat Mohammed Lawal     Congress For National Consensus     Kamoru Kadiri     Sabo-Oke     Teachers Specific Allowance     Oluwatoyin Lukman     Razaq Ayobami Akanbi     Amusement Park     Abdulrazaq Solihudeen     Moshood Kashimawo Abiola     Bolaji Nagode     Yusuf Amuda Aluko     Suleman Abubakar     Saadatu Modibbo-Kawu     James Ayeni     Razak Atunwa     Sebastine Obasi     Yusuf Lanre Badmus     Valsolar Consortium     Kwara Poly     Edu     James Kolo     Okoolowo     Adesoye     Elerinjare-Ibobo     Saka Isau     V.O. Abioye     Balogun-Ojomu     National Party Of Nigeria     Taiwo Joseph     Federal Polytechnic Offa     Rapheal Ashaolu     Tunde Oyawoye     Suraj Tunji Oyewale     Aisha Gobir     Ayeyemi Sulaiman     Mansurat Amuda-Kannike     Abdulkadir Bolakale Sakariyah     Ishola Balogun Fulani     Femtech     Abdulhakeem Amao     Elerinjare     SGBN     Ilorin West/Asa Federal Constituency     Cornelius Adebayo     Ilorin Descendants Progressive Union     Yusuf Abdulkadir     Valsolar Consultoria     Saheed Akinwumi     Esinrogunjo     Vasolar     Overland     Eghe Igbinehin     Baruten     Maigida Soludero Transit     Ahman Pategi University     Al-Adaby     Adamu B. Yaqubu     Abdulrazaq Aiyelabegan     CACOVID     Adedeji Onimago     Doyin Awoyale     Wahab Olasupo Egbewole     Wasiu Onidugbe     Abdullahi Adisa Akodudu     Justina Oha     Elesie Of Esie     ER-KANG Mining Nigeria Company Limited     Mohammed Lawal     AbdulRazaq Jiddah     Bilikis Oladimeji     Tunji Arosanyin     United Nigeria Congress Party