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.

Voices Of Tomorrow     Budo Egba     Florence Saraki     Bayo Mohammed Onimode     Iyeru Grammar School     Christopher Odetunde     Adegoke Bamidele     Abdulwahab Oba     Olupako     UNILORIN Alumni Association     Nurudeen Mohammed     Alaiye     Sunday Fagbemi     Al-Adaby     Odogun Olushola Gabriel     Adedipe     Ilorin Curfew     National Association Of Nigerian Students     Bisi Oyeleke     Sunday Popo-Ola     April 11     Surajudeen Akanbi     Baboko     Titus Ashaolu     Senior Special Assistant On Student Affairs     Overland     Odolaye Aremu     Memunat Monsuma     David Adesina     Hamidu Olowo     Alagbado     Sheriff Olanrewaju     Oyedepo     Adijat Adebiyi     Umaru Saro     Salman Jawondo     Olabode George Towoju     Yinka Aluko     Jimoh Akani     KWAFFA     Amusa Bello     Otuka     Aliyu Kora-Sabi     Kayode Laro     International Aviation College     Soffiyyallah Kamaldeen     COEASU     Okin High School     T And K FOODS     Abdulwaheed Musa     Muhammadu Gobir     Special Adviser On Digital Innovation     Mohammed Alabi Lawal     General Hospital, Ilorin     Eruku     Ahmed Dankaya     Saka Keji     CKNG     Bibire Ajape     Joana Nnazua Kolo     Kwha.gov.ng     Durosinlohun Atiku     Harafat E. Mukadam     Abubakar Abdulraheem     Shuaibu Yaman     Umar Danladi Shero     Sam Onile     Dar-Al-Handasah Consultants     Mohammed Ajia Ibrahim     RTEAN     Mufti Of Ilorin     Labaeka     Amos Bajeh     Oko-Olowo     Lateef Alagbonsi     Wole Oke     Afeyin-Olukuta    

Cloud Tag: What's trending

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

Yusuf Olaolu Ali     Ilorin East     Abdulkadir Remi Hawawu     AbdulGafar Tosho     Dar-Al-Handasah Consultants     Ajikobi     Mahmud Ajeigbe     Lithium     Edu     Olokoba     M.Y. Abdulrahaman     Baba-Isale     Sun Qing Rong     Babs Iwarere     Alaiye     Centre For Community Empowerment And Poverty Eradication     Jalala     Mohammed Ghali Alaaya     Ekiti     CUTI     Muritala Awodun     Lotus Bank     Prince Sunday Fagbemi     Saka Isau     Adama Isa     Mahfouz Adedimeji     Pakata Development Association     Saadu Gbogbo Iwe     AbdulGaniyu Kareem     Abdulraufu Mustapha     Esinniobiwa Quareeb     Mutawali     Ganmo Electricity Sub-Station     Femi Oladiji     Shehu Adaramaja     Ibrahim Oniye     Toyosi Thomas     Post Utme     Ashiru     Opolo Global Innovation Limited     All Confederation Of Principals Of Secondary Schools     Abdulsalam Firdaous Amosa     Lateef Alagbonsi     Tayo Alao     Overland     Abubakar Usman Jos     Aso Ofi     Theophilus Oyebiyi     Abdulmumini Jawondo     Abdullahi Samari     Hauwa Nuru     Bayer AG     Oke-Ero     Otoge     Imam Gambari     Onilu     Bahago     Odogun Olushola Gabriel     Mustapha AbdulGaniyu     Olaiya Zuberu     Salami Adekunle     Yusuf A. Usman     Isiaka Alikinla     Cornelius Fawenu     Government High School (GHS), Adeta     Abdulkadir Akanbi-Oke     Idiagbon     Jeunkunu-Malete-Bani     ASMAU PLAZA     Farouk Salim     Eghe Igbinehin     Saheed Popoola     Ojuekun Sarumi     Quarry Royal Valley     Ilorin Water Reticulation     Gambari     Adedeji Onimago