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.

Adedayo Yusuf Abdulkareem     Kunle Okeowo     Bashirat Bola Bello     Ibraheem Adeola Katibi     Pius Abioje     Aisha Ahman-Pategi     Tafidan Kaiama     Abubakar Lah     Elelu     Kwara Basketball Association     Olayinka Olaogun     Mahmud Ayinla Giwa     Bank Of Industry     Adesina Simon Sodiya     Timothy Olatunde Fadipe     Bature Bello     Farouk Salim     Tosin Saraki     Odogun Olushola Gabriel     Madawaki Of Ilorin     Soffiyyallah Kamaldeen     Ganmo Power Sub-Station     Saka Aleshinloye     Bashir Adigun     Abdulazeez Uthman     Ndama Al-hassan     Senate Presidency     Gabriel Fashanu     IEDPU     Isiaka Danmeromu     Owu Fall     Ilorin Anchor Men And Women     Ibrahim Akaje     Alanamu     Jalala     Mukhtar Shagaya     Muslim Media Watch Group Of Nigeria     Abdulmajeed Wahab     Ilorin Likeminds Foundation     Mohammed Abduraheem     Aisha Gobir     Omotoso     Mohammed Kamaludeen     Geri-Alimi Split Diamond Interchange     Tsado Manman     Fulani     Pakata Development Association     Nigerian Medical Association     Atiku     Sheriff Shagaya     Roseline Oni Aremu     The Herald     Ahmad Uthman     Oko     Tunde Kazeem     Budo-Egba     Salary     Abiodun Abdulkareem     Abdulmumini AbdulRazaq     Yusuf Badmus     UNILORIN Alumni Association     Galland Marcias     Quranic Recitation Competition     Kayode Oyin Zubair     Haruna Olawale Sulaiman     Ilorin International Airport     Balogin Alanamu     Ayobola Ipinlaiye     SAPZ Project     Zainab Abass     Suleman Abubakar     Lanwa     Ekweremadu     Yomi Adeboye     Abubakar Baba     CT Ayeni     Tayo Awodiji    

Cloud Tag: What's trending

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

Risikat Lawal     Lafiagi     COVID-19 Palliatives     Lawal Jimoh     Olufolake Abdulrazaq     Vasolar Consultoria     Adamu Jemilat-Baki     Kwara State Branch Of The National Library     Alabere     Dumagi     Alfa Modibo Belgore     Nigerian Army     Omoniyi     Moshood Mustapha     Magaji Erubu     Kwara Hotel     Ajikobi     Kwara United     UTME     Abdulrazak Shehu Akorede     Yetunde Balogun     Durosinlohun Kawu     James Kolo     Bola Tinubu     KWSUED     Saad Omo Iya     KWACOBPA     Abdulraufu Mustapha     Rafiu Ajakaye     Idi-Ape     Issa Manzuma     Veterinary Teaching Hospital     Suleiman Mora Omar     Maigida     Sam Okaula     Code Of Conduct Tribunal     Kwara Central     Revenue Court     Musbau A. Akanji     Adedipe     Saduki Lafiagi     Taofik Mustapha     Facemasks     Ishaq Oloyede     Universal Basic Education Commission     Busari Toyin Isiaka     Biliaminu Aliu     Offorjama     Aisha Gobir     Mohammed Haruna     Sobi FM     Ilorin Central Mosque     N-Power     Osi     Saheed Popoola     Kwara State University Of Education     Earlyon Technologies     Post-utme     Atiku     Kwara State Polytechnic     Okala Baba     Yunus Lawal     Ibrahim Oniye     Teachers Specific Allowance     National Pilot     Oja-Oba     NYSC     General Hospital, Ilorin     Siraj Oyewale     Waziri Yakubu Gobir     Tinubu     Rabiu Kwankwaso     Dan Masanin     Makama Of Ilorin     Lafia Aliyu Korasabi     Femi Agbaje     Emir Of Shonga