Rice Prices Drop in Kwara as Naira Strengthens
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.
Oasis Muslim Care Foundation Razaq Atunwa Yinka Aluko Kola Shittu Kwara Basketball Association Yusuf A. Usman Baruten Bilikisu Oniyangi Bolaji Abdullahi Oniyangi Monthly Sanitation Durosinlohun Kawu SUBEB VADA Babajide Ajayi Taofeeq Olateju Apaokagi State Bureau Of Internal Revenue Kwara State Polytechnic Ahmad Ali Yusuf Arowosaye Dauda Adesola ENetSuD ER-KANG Adesoye Tosho Yaqub Emir Of Lafiagi Mumini Ishola Hanafi Dunmade Baba Adini Of Kwara State Ilorin Likeminds Foundation Abdulrahman Onikijipa Fatima Abolore Jimoh Binta Abubakar Mora Abdulrazaq Solihudeen Tinubu Guber Aspirant Muhammed Taofeeq Abdulrazaq Abdullahi Dasilva Yussuf Yusuf Lawal Lanre Aremu Katibi Ibraheem Adeola Kazeem Gbolagade Hussein Oloyede Radio SBS Musibau Akanji Yusuf Abdulwahab Atiku Standard Organization Of Nigeria Orisa Bridge Fatimoh Lawal Elesie Of Esie Muhammad-Mustapha Suleiman PPS Government High School Adeta Durbar Ado Ibrahim Societe Generale Bank Of Nigeria Muhammed Aliyu Earlyon Technologies Abdul-Rahoof Bello Lanre Issa Onilu Maigida Local Government Pension Board Falokun-Oja Labaeka Isiaka Yusuf Senate President Sheikh Ridhwanullah Suleiman Ajadi Kayode Zubair Baakini Oke-Odo Akande Idowu Ayoola Muhammed Igosun Sarah Jubril Mohammed Abdulahi

