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.
SUBEB Abdulhakeem Amao Azeez Bello AbdulRauf Keji Adijat Adebiyi Gwanara Isaac Gbenle Plat Technologies Yakub Lai Gobir Egbewole Usman Yunusa Abdulganiyu Oladosu Bolakale Kawu Geri-Alimi Split Diamond Interchange Olokoba Abdullahi Ayinla PAACO-PCL Consortium Akeem Lawal International Vocational Centre Dauda Adeniran Adeshola Otuka Babatunde Ishola Babaita Ilorin General Hospital Musbau A. Akanji Ahmad Olanrewaju Belgore Patigi Regatta Gamji Members Association Saliu Tunde Bello Alabe Kwara State Football Association Budo Egba Simeon Sayomi Okanlawon Taiwo David Oyepinola Adedumoye Ibrahim Oniye Bola Sagaya Facebook Bashirat Bola Bello Afonja Descendants Union Eghe Igbinehi Baba-Isale Muideen Olaniyi Alalade IHS Towers Tunde Oyawoye Asiwaju Bola Tinubu COVID Jumoke F. Ajao Saka Aleshinloye Muhammad Sirajo Aliyu Femi Oladiji Chief Of Staff Raheem Adaramaja Sunday Fagbemi Kolawole Bashirat Abdulmumin Yinka Ajia Mohammed Haruna AbdulRazaq Abubakar Jiddah Diagnostic Centre Muhammadu Buhari Jide Oyinloye Tosho Yaqub Raliat Islamic Foundation Ezekiel Yissa Benjamin Okanlawon Musa Ilorin.Info Majlis For Sadakah, Zakat And Waqf ASMAU PLAZA College Of Health Bashir Adigun Fatai Garuba Labaka Bashir Badawi Kwara State Fish Farmers Association Jare Olatundun Gbenga Olawepo Oyawoye The Herald Buari Edun Kamaldeen Kehinde

