Rice Prices Drop in Kwara as Naira Strengthens
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.
NIPOGA Babaita Code Of Conduct Bureau Kazeem Adekanye Baba Issa Abubakar Baba Olupako Suleiman Rotimi Iliasu AbdulRazaq Abubakar Jiddah Madawaki Of Ilorin Plat Technologies Bola Sagaya Code Of Conduct Tribunal Overland Shuaibu Yaman NIPR Ajase-Ipo Yusuf Amuda Gobir Amusa Bello National Broadcasting Commission Twitter Tayo Awodiji Ridwan Agboola Quarry Royal Valley Mansur Alfanla Trade Lenda SME Fair Oba Abdulraheem Olokoba Abdullahi Ayinla Gbemisola Oguntimehin Abdulrahman Abdullahi Kayode Kwara Restoration Project Gbadeyan Gbadura Yomi Sulu Babaita Isiaka Transition Implementation Committee Jani Ibrahim Funke Adedoyin Abubakar B.M Nigeria Governors\' Forum Harafat E. Mukadam Alaiye Ishak Mohammed Sabi Dele Belgore Kawu Baraje Mopelola Abdulmaliq-Bashir Basic Education Certificate Examination IESA Share-Tsaragi ER-KANG Mining Ayinde Oyepitan Shaaba Lafiagi Temi Kolawole Salihu Yahaya Onilupeju Of Ilupeju Samari Opolo Global Innovation Limited Bolakale Ayo Bamikole Omishore National Pilot Alabe Alapado High Court Bola Iyabo Ibiyeye Adisa Javed Khan Kale Kawu Kale Belgore Saudat Abdulbaqi Olukotun Of Ikotun Ilofa Oniyangi Kunle Sulaiman Government Girls’ Day Secondary School Pakata Sarafadeen Kayode Akorede Ijakadi Ojuekun Sarumi Rihanat Ajia Hussein Olokooba Asa Aliyu Adebayo

