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.

Rice Farmers Association Of Nigeria     Olokoba Sulyman     HICA     Muhammad Yahya     Abiodun Jacob Ajiboye     IHS     Ayinke Saka     Mohammed Halidu     National Broadcasting Commission     Sebastine Obasi     Garba Ayodele Wahab     Oke-opin     Ajakaye     Onikijipa     Idiagbon     Gbenga Olawepo     IPSAS     Musa Abdullahi     Oko-Olowo     Alimi     Olomu Of Omu-Aran     Abubakar Usman Jos     Kwara State Television (KWTV)     C2c@kwarastate.gov.ng     Eleja Taiwo Banu     Kwara Politics     Shehu Salau     Ajibike Katibi     Mumeen Lah     Timothy Akangbe     Abdulrasheed Na\'Allah     Abdullahi Atanda     Nigeria Foundation For Artificial Intelligence     Mutawali     Fulani     UTME     Abubakar Imam     Kwara Polytechnic     N-Power     Aliyu Salihu     Lanre Jimoh     Ope Saraki     Tafidan Kaiama     Sun Qing Rong     Muhammadu Buhari     Olatunji Ibrahim     Agboola Abdulraheem     Shehu Jimoh     Ibrahim Jawondo     Babatunde Idiagbon     Jumoke F. Ajao     Kazeem Adekanye     Aliyu Sabi     Abatemi-Usman     Summit University     Apaola     Awwal Jawondo     Ashiru     Bolaji Aladie     Wahab Kunle Shittu     Esuwoye     Aliyu Alhassan     CACOVID Palliatives     Bareke     Clara Nwachukwu     NFAI     Hassan Saliu     Suleiman Ajadi     Sidikat Akaje     Olomu     NITDA     Kwara NIPR     Osuwa     Ahmed Mohammed Rifun     JAMB     Muyiwa Oladipo Kanu     Pacify Labs    

Cloud Tag: What's trending

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

Kubra Kazum     Women For Change And Development Initiative     Federal Allocation     Yemi Osinbajo     Orisun Igbomina     Magaji Nda     Alabe     Ahman Patigi     Sa\'ad Alanamu     State Bureau Of Internal Revenue     Ilorin Central Mosque     All Confederation Of Principals Of Secondary Schools     Ilesha-Gwanara     Balogin Alanamu     John Olajide Adedipe     Emir Of Kano     Olaiya Lawal     Yusuf AbdulRasheed     Moses Salami     KSIRS     Neo Mundo Ltd     Hassan A. Saliu     Obasanjo     Ahmad Ali     Babata     Abdulkareem Alabi     Hassan Taiye Salam     Dar-Al-Handasah Consultants     UTME     Sheikh Hamzat Yusuf Ariyibi     Halidu Danbaba     Temitope Ogunbanke     Women Radio     Donatus Ejidike     Okala Baba     Isiaka Saka Opobiyi     Principal Private Secretary     Kayode Laro     Owu Fall     Dairo Kunle Paul     Abubakar Abdulraheem     Reuben Paraje     Ayekale     AbdulRazaq Jiddah     Kuliyan Geri     Rebecca Bake     Ajasse-Ipo     Saadatu Modibbo-Kawu     Olatunji Ibrahim     Moshood Kashimawo Abiola     Micheal Imoudu     Ayinde Oyepitan     Rasaq Jimoh     NIPOGA     Bola Sagaya     Ahmed Bolaji Nagode     Bukola Ajikobi     Ganmo     Awoye     Mufutau Olatinwo     PharmAccess Foundation     Saliu Mustapha     Mansurat Amuda-Kannike     Kwara State Fish Farmers Association     Kamaldeen Ajibade     Sarah Alade     Tosho Yaqub     Aisha Ahman-Pategi     Pategi     Abubakar Baba     Oba-Solagberu     Markaz Arabic And Islamic Training Institute, Agege     Innocent Okoye     Abdullahi Dasilva Yussuf     Omoniyi     Ijagbo Health Centre     Kayode Oyin-Zubair