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.

Ishaq Salman     Ubandawaki     Osuwa     Idris Garuba     Ile Arugbo     Kamaldeen Kehinde     Hijab     Aliyu Alhassan     Balogin Alanamu     Senate Presidency     Amina El-Imam     Ilorin East/South Federal Constituency     Rafiu Ajakaye     International Aviation College     Amos Justus Sayo     Taofik Mustapha     NIRSAL     Ilorin Metro Park     Centre For Peace And Strategic Studies     Olumide Daniel Ibitoye     NTA Ilorin     Bukola Saraki     Rachael Obisesan     Odolaye Aremu     Yusuf Ibitokun Sherifat     Patigi Regatta     Kanu Agabi     Baaziki Sulaiman     Seni Saraki     Lukman Adeloyin     Rex Olawoye     Adesoye College     Shade Omoniyi     Shehu Jimoh     Bello Oyebanji     Isiaka Saka Opobiyi     Olubukola Kifayat Adedeji     Fola Consultant     Segun Olawoyin     Akom Construction And Engineering Synergy Ltd     Haruna Tambiri Mohammed     COVID-19 Palliatives     Tosho Yaqub     Joseph Alex Offorjama     MAI Akande     NYSC     Abdulganiyu Oladosu     Kayode Zubair     TVC Female National Debate     Kwara State Printing And Publishing Corporation     Jawondo     SSA Youth     Yusuf Amuda Aluko     Orire     Arca Santa     TIC     Afin Descendants Union Of Odo-Owa     Yusuf Arowosaye     Zaratu Umar     Ajakaye     Gani Saadu     Oniwasi Agbaye     Sarah Alade     Bello Abubakar     Amos Sayo     Umar Sanda Yusuf     Abdulrauf Yusuf     Okin Biscuit     Zara Umar     Olajumoke Monsura Gafar     Jumoke Monsura Gafar     Plat Technologies     Durbar     Yakub Ali-Agan     Taofik Abdulkareem     Academic Staff Union Of Universities     Ahmed Idris Mohammed    

Cloud Tag: What's trending

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

Folashade Omoniyi     Abdulganiyu Oladosu     Taiwo Joseph     Suleiman Yahya Alapansapa     Durosinlohun Kawu     Salmon Babatunde Salmon     Saudat Abdulbaqi     Rotimi Atere     Michael Nzekwe     Owo Arugbo     Busari Alabi Alausa     Sa\'adu Salau     Yusuf Amuda Aluko     ENetSuD     Hussein Olokooba     Ishak Mohammed Sabi     Dauda Adesola     Abdulrazak Shehu Akorede     Bola Sagaya     Senate President     Ilorin Emirate Stakeholders Forum     Gafaru Olayiwola Olorisade     Monkey Pox     Yusuf Lanre Badmus     Kwarareports     Akeem Olatunji     Baruten     Muhammadu Gobir     Alapansapa     Ahmad Belgore     Solomon Edojah     MATTA Girls Foundation     Tafida Of Kaiama     Jawondo     Toun Okewale-Sonaiya     Neuropsychiatric Hospital     Adesoye College     Afusat Nike Ibrahim     Olabimpe Olani     NURTW     SSA Youth Engagement     Irepodun     Haruna Tambiri Mohammed     Adamu Attah     AbdulRahman Saad     Shuaib Olarongbe     Kwara NIPR     Salami Adekunle     Seun Bolaji     Jimoh Bashir     College Of Health     Mahmud Durosinlohun Atiku     Oladipo Akanmu Tolani     Saliu Oluwole     Haashim Initiative For Community Advancement     Offa Grammer School     Aisha Gobir     Tafida     Raliat Islamic Foundation     Abdulmajeed Wahab     Aminu Ado Bayero     Ganmo Power Sub-Station     Emir Of Lafiagi     Tunde Saad     Sheu Ndanusa Usman     Lawan     Bahago     Laduba     Pilgrims Board     Ayinde Oki     NaAllah     Segun Olawoyin     Kwara State Pension Board     Mustapha Olanipekun     Abdulkadir Remi Hawawu     Musibau Akanji     Moses Adekanye