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.

Tsaragi-Share     Abdulrasaq Alaro     Pakata Patriots     NIPOGA     Sobi     Idiagbon     Oba Abdulrahim     Doyin Agbamu     Abdulwahab Olarewaju Issa     Muhammed Taofeeq Abdulrazaq     CCEPE     KWASIEC     Baaziki Sulaiman     Rasaq Jimoh     Maryam Nurudeen     Saka Asiat Ayinke     Jimoh Akani     National Broadcasting Commission     Mohammed Abduraheem     Ishak Mohammed Sabi     3MTT     Amuda Musbau     IFK     Saliu Oluwole     Kale Belgore     Oniyangi     Bareke     John Kehinde Salako     Sadiq Buhari     Ibrahim Abdullahi     AbdulRasaq Abdulmajeed Alaro     Busari Toyin Isiaka     Arandun     Emir Of Ilorin     April 11     Damilola Yusuf     Ibrahim Agboola Gambari     Raji AbdulRasaq     Rapheal Ashaolu     Sheikh Ariyibi     Isiaka Rafiu Mope     Jebba     Ramat Oganija     Lafiagi     Alabi Olayemi Abdulrazak     Afolasade Opeyemi Kemi     Rice Farmers Association Of Nigeria     Sobi Hill     Yomi Adeboye     Umar Bayo Abdulwahab     Awwal Jawondo     Opobiyi     Kayode Issa     Hakeem Lawal     UNILORIN Alumni Association     Asa LGEA School     Adeniyi Ojo     Umar Yakubu Jaja     Busari Alabi Alausa     Ayodele Olaosebikan     Bankole Omisore     Abdullahi AbdulMajeed     Millennium Development Goals     Jumoke Monsura Gafar     KWAFFA     Lateef Fagbemi     Kehinde Boyede     Saka Abimbola Isau     Kayode Oyin Zubair     Mahmud Durosinlohun Atiku     Ifelodun     Abubakar Suleiman     Otoge     Dorcas Afeniforo     Photo News     Senate President     Ilota    

Cloud Tag: What's trending

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

Bayer AG     Ita-Nmo Market     FERMA     UNILORIN Alumni     Ilorin South     Nigerian Army     Noah Yusuf     Student Learning Support Helpline     Labaeka     Kwara South     Principal Private Secretary     Joseph Offorjama     Abdulkadri Ahmad Alaiye     Bayo Ajia     Elelu     Hassan Saliu     Vasolar     Hijaab     Transition Implementation Committee     Sunday Fagbemi     Abdullahi Samari     Doyin Awoyale     Olomu Of Omu-Aran     BECE     TIC     Apata Ajele Secondary School     Assayomo     Kwara Basketball Association     Baruten     Abdullahi Atanda     Bayo Lawal     Shehu Salau     Hameed Oladipupo Ali     Pacify Labs     Tunji Oyawoye     Orisun Igbomina     Ijakadi     Kwara State Health Insurance Agency     Jebba     Solomon Edojah     SARS     Adebayo Mohammed Kamaldeen     Suleiman Abubakar     Yaru     Mohammed Jimoh Faworaja     Royal FM     Special Agro-industrial Processing Zone     Fatimat Saliu     Abdulwaheed Musa     David Oyepinola Adedumoye     Gbenga Awoyale     Elerin Of Adanla Irese     Mohammed Saidu     Kwara Teaching Service Commission     Salihu Alhaji Musa     Saad Omo\'ya     Alao Ayotunde     Oja-Oba     Kayode Alabi     MAI Akande     Folashade Omoniyi     National Party Of Nigeria     Ayegbeni     Abdulkadir Remi Hawawu     College Of Education     Bamidele Adegoke Oladimeji     07039448763     Eleyele     Kwara     Voices Of Tomorrow     Saad Belgore     Lawan     Micheal Imodu-Ganmo Road     Wahab Kunle Shittu     Abdulquowiyu Olododo     Aishatu Ahmed Gobir     Ilorin Emirate