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.

Jimoh Saadudeen Muhammed     Kwara 2015     Roseline Oni Aremu     Makama Of Ilorin     Charles Ibitoye     Bilikis Oladimeji     Haruna Tambiri Mohammed     Hussein Olokooba     Quarry Royal Valley     HYPPADEC     Sunday Popo-Ola     Y.A. Abdulkareem     CCB     Salihu Ajibola Ajia     Patigi Regatta     Kwara State Football Association     Park     Tunde Akanbi     11th Galadima     Omu-aran     Ibrahim Sulu Gambari     John Mayokun Dada     Ilorin Emirate     Kwara Volleyball Association     Kolawole Bashirat     Olayinka Olaogun     Aminu Adisa Logun     Iyeru Grammar School     Abdulquowiyu Olododo     Borgu     Ilorin Talaka Parapo (ITP)     Ethical College     AbdulRasaq Abdulmajeed Alaro     Ilorin Emirate Stakeholders Forum     Ibrahim Abiodun     New Naira Notes     Kwara State Printing And Publishing Corporation     Muazam Nayaya     Yahaya Muhammad     Jebba     Sheriff Shagaya     Adamu Jemilat-Baki     General Hospital     Maimunat Oloriegbe     Yusuf Babatunde Abdulwahab     Tosho Yaqub     Charcoal     Magaji Erubu     Flights To Ilorin     Saka Aleshinloye     Jimoh Bashir     Usman Rifun     Tayo Awodiji     IF-K     Prince Sunday Fagbemi     CELF     Oba Abdulraheem     Oyedepo     Isa Aremu     PharmAccess Foundation     Minimum Wage     Dasuki Belgore     Opobiyi     Aliyu Kora Sabi     CACOVID Palliatives     Babs Iwarere     Elewu     Abubakar Abdulraheem     KwaraLearn     Yemi Sanni     Sunday Fagbemi     Moses Rahman Popoola     Mutawali Of Ilorin     Olosi Of Osi     Oju Ekun Sarumi     Jaigbade Alao     Young Progressives Party    

Cloud Tag: What's trending

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

Jani Ibrahim     Adamu Ibrahim Sabi     Kayode Laro     Kulende     Tsaragi/Share     Bello Oyedepo     Ibrahim Gambari     Bukola Saraki     Abdulkadir Jimoh     Mohammed Ajia Ibrahim     Abdulhakeem Adelaja Amao     TESCOM     Ahmad Olayiwola Kamaldeen     Oke Sunna     SUBEB     Rotimi Samuel Olujide     Abdulfatai Ahmed     Yusuf Arowosaye     Ariyo     Suleiman Mora Omar     M.Y. Abdulrahaman     Ibrahim Oloriegbe     Ahmed Alhasssan     Babs Iwarere     Vasolar Consultoria     Hameed Oladipupo Ali     Yakub Ali-Agan     Presidential Election     Alimi     Okiki     Paul Odama     Kazeem Gbolagade     CLAY POT     Baba Idris     Abubakar Lah     Wahab Issa     Ndama Al-hassan     Bashiru Makama     Femtech     College Of Education     Gamji Members Association     Okin Biscuits     Michael Imoudu National Institute For Labour Studies     Ajidagba     Sadiq Umar     Senate     Sheikh Ridhwanullah     Abdulrazak Shehu Akorede     Unilorin     Ayo Opadokun     Alimi Abdulrazaq     Sobi Specialist Hospital     Olomu     Dogara     Abdul-Rasheed Na\'Allah     Oko Erin     Smart School     AbdulRazaq Abubakar Jiddah     Gafaru Olayiwola Olorisade     Ijakadi     Babatunde Ajeigbe     Abdullahi AbdulMajeed     KWASEIC     Lanwa     Ekiti     Lotus Bank     Oyeyemi Olasumbo Florence     Kwara Metro Park     Agboola Abdulraheem     Shuaibu Yaman Abdullahi     Alfa Belgore     Kolade Solagberu     Shururat Olatinwo     Ilorin South Constituency     Yakubu Mohammed Abdullahi     Economic And Financial Crimes Commission     NIRSAL