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.

Abdulhakeem Adelaja Amao     Abiodun Oyedepo     Rafiu Ibrahim     Adegoke Bamidele     Rashidi Yekini     Alumni Association Of The Federal Polytechnic Offa     Rice Farmers Association Of Nigeria     Umar Danladi Shero     Diagnostic Centre     KW-GIS     Sambo Murtala     Yusuf AbdulRasheed     Volunteers Of Ilorin Community And The Emirate     Kayode Laro     Lasiele Alabi Yahaya     Femi Ogunsola     Toyin Saraki     Opobiyi     Kabir Shagaya     Yemi Sanni     SAPZ Project     Kwara Primary Health Care Development Agency     Saka Aleshinloye     UTME     Moji Makanjuola     Amuda Bembe     Kwara State Governor     Towobola Abdulrahman Toyin     Baba Issa Awoye     Suleiman Rotimi Iliasu     Busari Alabi Alausa     Countryside Emerging Leaders Fellowship     Aliyu Olatunji Ajanaku     Abdulkareem Alabi     Ishaq Oloyede     Mogaji Aare     Lanre Issa Onilu     Umar Bayo Abdulwahab     Muyideen Ajani Bello     Ahmad Olanrewaju Belgore     Abdulrazaq Akorede     College Of Health     Yusuf Arowosaye     NIPOGA     Yekeen Alabi     Abdulrasheed Na\'Allah     LEAH Charity Foundation     Damilola Yusuf     Oyawoye     Abdulrazaq Adebayo     Local Government Pension Board     Shaaba Lafiagi     Okanlawon Taiwo     Rabiu Kwankwaso     Olushola Saraki     Young Progressives Party     Mumini Ishola Hanafi     Tuesday Assayomo     Mamman Saba Jibril     Kwara Restoration Project     Odo-Owa     Yetunde Balogun     Ayobami Seriki     Danladi     Adamu Atta     Sunday Otokiti     Kwara State Football Association     David Adesina     Tunji Olawuyi     Ibrahim Abdulqadir Abikan     Bolakale Ayo     Olatunde Michaels     RTEAN     Umar Ayinla Saro     Yahaya Dumoye     Aliyu Kora-Sabi     Ayotunde Emmanuel Alao    

Cloud Tag: What's trending

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

Mansur Alfanla     Galland Marcias     General Hospital, Ilorin     Christopher Tunji Ayeni     Yahaya Jibril Usman     JAAC     Maja     Ilorin Central Mosque     Quareeb     Tuesday Assayomo     Yusuf Amuda Aluko     Tayo Alao     Balogun-Ojomu     Joshua Adeyemi Adimula     Joseph Alex Offorjama     Toyin Sanusi     Yaman     Garba Idris Ajia     Awoye     SSA Youth     Omoniyi Ayinla     Unicontinental Construction Company     Alliance For Democracy     Agbarere     NIRSAL     Sarkin Malamai     Tunji Ajanaku     Kwara 2019     Saadu Yusuf     CT Ayeni     Theophilus Oyebiyi     Lawal Arinola Kudirat     Frootify     Shehu Alimi Foundation For Peace And Development     Mohammed Tunde-Jimoh     Dumagi     Hikmah AbdulKareem     Vasolar Consortium     Majlis For Sadakah, Zakat And Waqf     SWAN     Issa Memunat Moyosore     Abdulraufu Mustapha     Amosa     Ajuloopin     James Ayeni     Alloy Chukwuemeka     Onilu     Abdulsalam A. Yusuf     Ayo Salami     Abdulhakeem Adelaja Amao     Firdaos Amasa     Wahab Olasupo Egbewole     Ajase-Ipo     Muhammad Akande Olarewaju Odunade     Abdul-Rasheed Na\'Allah     Ita-Ore     Ishaq Oloyede     Okanlawon Musa     Simeon Sule Ajibola     Sidikat Alaya     John Mayokun Dada     Yusuf Amuda Abubakar     Muslim Stakeholders Of Kwara State     Sheikh Ridhwanullah El-ilory     Mohammed Abduraheem     Kwara State Pension Board     AbdulGafar Tosho     Rafiu Olasile     Mohammed Danjuma     David Oyerinola Adedunmoye     Olupako     Taofik Abdulkareem     Mohammed Khadijat Kubura     Adamu Ibrahim Sabi     Madawaki Of Ilorin     T And K FOODS     Olaitan Adefila