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.

Amusement Park     AGM Professional Services     Clement Yomi Adeboye     Government High School Adeta     Alore     Tunji Ajanaku     NITDA     Oasis Muslim Care Foundation     Doyin Group     Okoolowo     Sa\'ad Alanamu     Belgore     Kale Ayo     Amuda Aluko     Abdullahi Atanda     Ijagbo     Emir Of Yashikira     Illyasu Abdullahi     College Of Health     Saliu Shola Taofeek     Maimunat Oloriegbe     Shuaibu Yaman Abdullahi     Alanamu     Olusola Saraki     Fatimah Abdulkadir     IESA     Sidikat Uthman Ajibola     Surajudeen Akanbi     Ojo Fadumila     Maryam Ado Bayero     Communication Network Support Services     Tafida Of Kaiama     African Democratic Congress     Yemi Osinbajo     Undergraduate Bursary     Rapheal Ashaolu     Asa LGEA School     Ilorin Curfew     Yunus Oniboki     Oba David Oyerinola Adedunmoye     Dele Momodu     Ethical College     Prince Sunday Fagbemi     Nigerian Supreme Council For Islamic Affairs     Abubakar Usman Jos     Centre For Peace And Strategic Studies     Rueben Parejo     Majlis For Sadaqah, Zakat And Waqf     Muhammad Fawaz Abubakar     Omoniyi     Unilorin FM     Kazeem Oladepo     Aisha Gobir     Bursary     Adedipe     Hakeem Idris     Kolade Solagberu     Arandun     Tunji Olawuyi     Sun Qing Rong     Mukhtar Shagaya     Madawaki Of Ilorin     Halimat Yusuf     Toyin Sanusi     Ekiti     Olumide Daniel Ibitoye     Donatus Ejidike     Kaosarah Adeyi     Ijakadi     Olam Food Ingredients     Ibrahim Mashood     Kwasu     Simeon Sule Ajibola     Bukola Saraki     ENetSuD     Nigeria Governors\' Forum     Ahmad Lawan    

Cloud Tag: What's trending

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

AbdulGafar Tosho     Dauda Adeniran Adeshola     Wahab Olasupo Egbewole     Kwara Pdp     Grillo     David Adesina     COEASU     ER-KANG     Lateef Ademola Olatunji     Adegoke Bamidele     Abdulfatah Ahmed     Mopelola Abdulmaliq-Bashir     Mutawalle     Aliyu Alhassan     Kwara-SAPZ Project     Tricycle Owners Association Of Nigeria     CACOVID     Dasuki Belgore     Jide Ashonibare     Islamic Development Bank     Alapansapa     Abdulfatai Baakini     Bolakale Ayo     Joseph Bamigboye     Isiaka AbdulRazaq     Muhammadu Gobir     IHS     JAAC     Olusegun Adeniyi     Kwara State Printing And Publishing Corporation     Nigerian Army     Eleja Taiwo Banu     Ahmad Olanrewaju Belgore     Toyin Olayinka Tejidini     Olatunde Jare     Henry Olaosebikan     Pacify Labs     Aremu Odolaye     Folashade Omoniyi     Bukola Ajikobi     Hamidu Olowo     Saduki Lafiagi     Issa Memunat Moyosore     KWASSIP     Salami Adekunle     National Union Of Road Transport Workers     Magaji Nda     Ahmed Mohammed Rifun     NIPOGA     CELF     Ayodele Shittu     Agor     Ajayi Okasanmi     Tuesday Assayomo     Oke-Ogun     CCB     Hauwa Nuru     Ajidagba     UNILORIN Alumni Association     Sardauna     Gbemisola Oguntimehin     AIT Ilorin     Saheed Akinwumi     Bareke     Medinat Folorunsho Salman     Emmanuel Olatunji Adesoye     Undergraduate Bursary     Sulyman Abdulkareem     Kamaldeen Gambari     Kwara State Coalition Of Business And Professional Associations     Taofeek Ibraheem     Alaro     Iyiola Oyedepo     Babajide Ajayi     Salman Suleiman     Obasanjo     Valsolar Consortium