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.

Babatunde Ishola Babaita     Bayo Ojo     Afonja     Abdulkadir Akanbi-Oke     Mohammed Ibrahim     Abdulbaqi Jimoh     Ganmo Electricity Sub-Station     Inside Kwara     Abdulrahman Onikijipa     David Oyerinola Adedunmoye     Kulende     Yomi Adeboye     Abdulganiyu Oladosu     Mukhtar Shagaya     Abdulquawiy Olododo     Obasanjo     Zulkifli Ibraheem     Muhammed Aliyu     Amina Susa\'a De Ahmed     Javed Khan     Sai Kayi     Muhammed Akanbi     SDP     Harrison Osauwagboe     Owode Market     Sunday Popo-Ola     Ahman Pategi     SARS     Rihanat Ajia     HICA     Tunji Folami     Oke-opin     Ibrahim Taiwo Road     Joseph Yemi Ajayi     Bola Magaji     HYPPADEC     Abdulrazaq Akorede     Musa Ayinla Yeketi     United Nigeria Airline     Bukola Ajikobi     Saad Omo\'ya     Oba Abdulkadir La\'aro     Aliyu Sabi     Sheikh Ridhwanullah El-ilory     Lateef Fagbemi     Ola Falade     Donatus Ejidike     Offa Descendants Union     Chikanda     NFAI     Flights To Ilorin     Joshua Adeyemi Adimula     Emir Of Yashikira     LEAH Charity Foundation     Ibrahim Abduquadri Abikan     KWAFFA     Saliu Alamoyo     Abdullahi Imam Abdullahi     KWASIEC     Adamu Jemilat-Baki     Kwarareports     Sardauna Of Ilorin     Yakubu Danladi     Simeon Sayomi     Adewuyi Funmilayo     Undergraduate Bursary     Laolu Saraki     State Bureau Of Internal Revenue     Park     Ilorin South Constituency     2023 Elections     Kwara State Coalition Of Business And Professional Associations     Bola Tinubu     Wahab Femi Agbaje     Jaigbade Alao     Shehu Jimoh     Dauda Adeniran Adeshola    

Cloud Tag: What's trending

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

Kazeem Adekanye     Wole Oke     Ilorin Likeminds Foundation     Curfew     Okin Group     Rafiu Ajakaye     Folaranmi Aro     Tunde Mukaila Mustapha     Federal Allocation     Oke-Ero     Ilofa     Biliaminu Aliu     Habeeb Abdullahi Al-Ilory     Babaita     Mohammed Ibrahim     Ilorin Central Mosque     Isiaq Khadeejah     Kwara United     Isiaka Yusuf     Yaman     SWAN     Salman Suleiman     Bahago     Public Holiday     S.O. Opowoye     Nnazua     Isiaka Rafiu Mope     Aliyu Alhassan     Doyin Agbamu     Firdaos Amasa     Joseph Alex Offorjama     Code Of Conduct     Kupchi Hosea Maxwell     Abdulkadir Orire     Jelili Yusuf     Medview Airlines     Abdulrasheed Akogun     Abdulmumini Sanni Jawondo     Ibrahim Issa Jetti     KWASEIC     Towoju     Babata     Saka Onimago     Adijat Adebiyi     Ita-Nmo Market     Afin Descendants Union Of Odo-Owa     Erin-ile     Savannah Centre For Diplomacy, Democracy And Development     Government High School Adeta     Kulende-UITH     Oro Grammar School     Abdulwahab Ololele     Osuwa     Kaiama     Mujtabah Bature     Lai Mohammed     Gbugbu     Awodun     ANCOPPS     Chief Imam Of Omu-Aran     Abdulrosheed Okiki     Tunde Oyawoye     Chief Of Staff     Oko-Erin     Makama Of Ilorin     Ayinde Oki     Elerin Of Erin-Ile     Kwara Coalition Of Business And Professional Associations     Ibrahim Bio     Kwara University Of Education     Kayode Oyin-Zubair     AbdulGaniyu Kareem     Razak Atunwa     Tosho Yaqub     Aliyu Muyideen     Oba-Solagberu     Lola Ashiru