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.

Azeez Salawu     Air Peace     Ahmed Mohammed Rifun     Omu-aran     Medview Airlines     Abdulraufu Mustapha     Cornelius Fawenu     Orire     Minimum Wage     Ezekiel Yissa Benjamin     Maigidasanma     Habeeb Saidu     Arca Santa     Tunde Mukaila Mustapha     Isiaq Khadeejah     Abdulfatah Ahmed     Abdulhakeem Amao     Gobir     Ayobami Akanbi     Ilesha-Baruba-Gwanara     Oba David Oyerinola Adedunmoye     Ogidi-Oloje     Students Union Government     Ahmed Dankaya     Kayode Yusuf     ASMAU PLAZA     College Of Arabic And Islamic Legal Studies     Binta Abubakar-Mora     Musa Abdullahi     Olawuyi     Ibrahim Mashood     Alabe     AbdulRahman Saad     Mutawali     Kwara Pdp     Ilorin West/Asa Federal Constituency     PAACO-PCL Consortium     Rex Olawoye     Adesoye     Oba Abdulraheem     Nupe     Modibo Kawu     Kayode Ibrahim     Peter Amogbonjaye     Undergraduate Bursary     Ibrahim Abdulqadir Abikan     Amule     Forgo Battery     Borgu     Moses Salami     Justina Oha     Usman Alkali Baba     Makama Of Ilorin     Monkey Pox     Ayekale     NURTW     Yusuf Abubakar     Vasolar Consultoria     United Nigeria Congress Party     Oba Abdulrahim     Otoge     AbdulFatai Adeniyi Dan-Kazeem     Abdulsalam Firdaous Amosa     Oyin-Zubair     Femi Ogunsola     Zara Umar     Bashir Omolaja Bolarinwa     Bahago     SWAN     Inside Kwara     Kwara Apc     Ilorin Water Reticulation     Computer Based Test     Elelu     Sulyman Tejidini     Olanrewju Okanlawon Musa     V.O. Abioye    

Cloud Tag: What's trending

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

Bio Ibrahim     NITDA     Mutawalle     Monkey Pox     Siraj Oyewale     Yusuf Badmus     Christopher Tunji Ayeni     Fatimah Abdulkadir     Tinubu     Centre For Peace And Strategic Studies     Javed Khan     Lanre Jimoh     Saka Adeyemo     Omotoso Musa     Olokoba     Suwa-Arabs     Societe Generale Bank Of Nigeria     Saadu Yusuf     Illyasu Abdullahi     Bello John Olanrewaju     March 28     Tafida     Kisira     Abdulrazaq Magaji     Memunat Monsuma     Toyin Saraki     Wahab Egbewole     Bola Ahmed Tinubu     Eleja Taiwo Banu     IYA YUSUF     Gambari     Kisra     Jumoke Monsura Gafar     Yusuf Aiyedun     Nigerian Medical Association     Maigida Soludero Transit     Eleja     IF-K     Sobi     Eleyele     ER-KANG Mining Nigeria Company Limited     Mohammed Lawal     Dan Iya Of Ilorin     Saliu Alamoyo     Okanlawon Musa     Usman Rifun     Atiku     Alapansapa     GAMA     Inside Kwara     Post-utme     Agbarigidoma     Shehu Alimi Foundation For Peace And Development     Musa Alhassan Buge     CLAY POT     Ramat Oganija     Oke-Ogun     James Kolo     A.O. Belgore     Bolaji Aladie     Logun     Salihu Ajia     Salihu Yahaya     Olusin Of Ijara Isin     Asa     Mansurat Amuda-Kannike     Mazars Consulting     Tunji Arosanyin     ENetSuD     Dele Momodu     Kwara Hotel     Hausa     Just Law Forum     Aliyu U. Tilde     International Vocational Centre     Samuel Olusegun Adedayo     Lukman Oyebanji Fagbemi