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.

Adijat Adebiyi     Madawaki     Bayer AG     Adewuyi Funmilayo     Shaaba Lafiagi     Taofik Abiodun Ahmed     Manzuma     Adolescent Girls Initiative For Learning And Empowerment     Bashir Omolaja Bolarinwa     Coalition Of Kwara North Groups     Isaac Gbenle     Abdullah Janet Amudat     Mohammed Ghali Alaaya     Ella Supreme Tissue Paper     Iliasu     Otoge     Muhammed Taofeeq Abdulrazaq     Summit University     Raliat Islamic Foundation     Haruna Tambiri Mohammed     Bio Ibrahim     Ekweremadu     Ayobami Akanbi     Elewu     Tunde Oyawoye     Gurei     Ishak Mohammed Sabi     Olatunji Ibrahim     Pacify Labs     Tunde Kazeem     Amoyo     Kayode Yusuf     Toyin Falola     Oni Adebayo     Hassan Oyeleke     Dan Iya Of Ilorin     Abdulkadir Bolakale Sakariyah     Abdulrosheed Okiki     Kwara State Health Insurance Agency     International Vocational Centre     Senate     Najim Yaasin     Abdulmajeed Abdullahi     Sayomi     Valsolar Consultoria     Yaru     Shoprite     Omar Bolaji Gambari     Ayodele Shittu     Oko Erin     Alapansapa     David Adesina     Haleeman Salman     Dar-Al-Handasah Consultants Ltd     Sheikh Alimi     Otunba Taiwo Joseph     Communication Network Support Services     Tanke Flyover Bridge     Joseph Daudu     Jelili Yusuf     Idi-Ape     Ahmed Mohammed Rifun     Oro Grammar School Old Students Association     Ahmad Belgore     Bola Tinubu     Kwara University Of Education     Yusuf Lanre Badmas     Dar-Al-Handasah Consultants     Olayinka Jelili Yusuf     Alaaya     Kwara Poly     Ibrahim Gambari     Ifelodun     Tunji Olawuyi     Gobir Organization Foundation     Baba Isale     Mohammed Ibrahim    

Cloud Tag: What's trending

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

Erubu     Otunba Taiwo Joseph     Isiaka Oniwa     Wahab Abayawo     Trader Moni     Crystal Corner Shops     Mustapha AbdulGaniyu     Oba Of Jebba     Muhammad Yahya     Amuda Bembe     Dan Iya Of Ilorin     National Party Of Nigeria     Ibrahim Mashood     Ibrahim Abdulkadir Abikan     Quran     Lanre Issa-Onilu     Abdullahi Biffo     Olatunji Ibrahim     Amasa     Olokoba     SGBN     Economic And Financial Crimes Commission     Bello John Olanrewaju     Post-utme     Ayo Opadokun     Kamaldeen Gambari     Bamidele Adegoke Oladimeji     Hamidu Olowo     Elerin Of Erin-Ile     MMWG     Moses Afolayan     James Kolo     HAMFAT Clinic And Maternity     High Court     Mohammed Ibrahim     Aro Yahaya     Memunat Monsuma     Ayo Adeyemi     Ilorin West     Olatunde Oyeyiola     Kisra     Haruna Tambiri Mohammed     Abdulganiyu Salahudeen     Abdulwasiu Bolaji Adeyi     Teachers Specific Allowance     Shururat Olatinwo     Isiaka Alikinla     Ishola Abdullahi     Bankole Omishore     Mumini Ishola Hanafi     Curfew     LEAH Charity Foundation     Ahmed Ayinla Jimoh     March 28     Bankole Omisore     Moro     BECE     Sulyman Atolagbe Alege     Usman Alkali Baba     Yusuf Amuda Aluko     Kwarareports.com     Bilikisu Gambari     Yusuf Ibitokun Sherifat     Idris Amosa Saidu     Ope Saraki     Standard Organization Of Nigeria     Noah Yusuf     Ilorin South Constituency     Geri-Alimi Split Diamond Interchange     Emir Of Kano     Twitter     Yakub Ali-Agan     Lanre Issa Onilu     Owode Market     Dan-Kazeem     Ahmed \'Lateef     Victor Gbenga Yusuf