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.

Ahmad Uthman     Ayo Salami     Mubarak Oladosu     Fulani     Unilorin FM     Jaigbade Alao     Yakubu Mohammed Abdullahi     Admiralty Villa     Noah Yusuf     Kwara Consultative Forum     Omu Aran     Sidikat Akaje     Saidu Yaro Musa     Aisha Abodunrin Ibrahim     Moji Makanjuola     Lateef Alagbonsi     Oyedun Juliana Funke     Hakeem Idris     Bilikisu Gambari     Shao     Towoju     Bashir Badawi     Road Transport Employers Association Of Nigeria     Kwara State Television     JMK Construction Company Limited     Hamidat Sulyman-Yusuf     Fawenu     Habeeb Abdullahi Al-Ilory     Tinubu     Folorunsho Alao     Nagode     Illyasu Abdullahi     Lanre Issa Onilu     Babaloja-General     Moshood Mustapha     Sobi FM     Alaiye     Arik     NIRSAL     Toyin Falola     BIR     Yusuf Olaolu Ali     Ahmad Belgore     Ilofa     Olofa Of Offa     Aishat Sulu-Gambari     Rasaq Jimoh     Madawaki Of Ilorin     Hussein Olokooba     Abdulrahman Abdulrasak     IFK     Tayo Awodiji     Abdulkadir Akanbi-Oke     Oko Erin     Hijab     Kwha.gov.ng     Hassan A. Saliu     Sulyman Age AbdulKareem     Al-Hikmah Radio     Iyabo Dupe Adekeye     Olusin Of Ijara Isin     Salman Alada     Bolakale Kawu     Shade Omoniyi     Ojuekun Sarumi     Aliyu Olatunji Ajanaku     Ajibike Katibi     Young Progressives Party     Kwara 2019     Tinubu Legacy Forum     Abdullahi Adisa Akodudu     SWAN     Umar Sanda Yusuf     Centre For Digital Economy     Aliyu Adebayo     Ganiyu Abolarin     Bolaji Nagode    

Cloud Tag: What's trending

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

Ilorin Anchor Men And Women     Saka Isau     Yahaya Dumoye     Aliyu U. Tilde     Dan Iya     Odogun Olushola Gabriel     Olupako Of Share     Bluenile Associates     2023 Elections     Justina Oha     ENetSuD     BIR     Yaru     Mohammed Halidu     Azeez Bello     Mike Omotosho     Muideen Olaniyi Alalade     Amule     Monthly Sanitation     Ishaq Oloyede     Alfa Yahaya Road     Razak Atunwa     Gbemi Saraki     Ayo Adeyemi     Teachers Specific Allowance     Omar Bolaji Gambari     Raliat Islamic Foundation     IHS     KWASSIP     Ballah     Kunle Okeowo     James Kolo     Oniyangi Kunle Sulaiman     Neuropsychiatric Hospital     Abdulhakeem Adelaja Amao     Abdul-Rasheed Na\'Allah     Police Commissioner     Ilorin Like-Minds     3MTT     Ebola     Joseph Alex Offorjama     Elerin Of Adanla     Alapansapa     Hijaab     Okiki     Kwarareports.com     Eleja     Al-Ilory     QuickWin     Lateef Fagbemi     Wale Oladepo     Kwara State Infrastructure Development Fund     Babs Iwarere     Kwara Muslim Pilgrims Welfare Board     Akeem Lawal     Gbajabiamila     Jimoh Saadudeen Muhammed     Sanusi Abubakar     Ilorin International Airport     Sulu Babaita Isiaka     Kamaldeen Kehinde     Kwara Polytechnic     Erubu     Olatunde Michaels     Doyin Agbamu     Kawu Baraje     KWTV     Kwara Consultative Forum     CUTI     Umar Bayo Abdulwahab     Kwara NIPR     Kola Shittu     Playing Host     MAI Akande     Alimi Abdulrazaq     Yusuf Amuda Gobir     Sam Okaula