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.

Abdulrazaq Solihudeen     Ariyo     IHS Towers     Ahmed Ayinla Jimoh     Alimi     Fulani     Baba Adini Of Kwara State     Abdulrahman Abdulrasaq     Vasolar Consortium     Asiwaju Bola Tinubu     Wahab Abayawo     Sodiya     Kwha.gov.ng     Suraj Tunji Oyewale     Olugbense     KwaraLearn     Bello Oyebanji     Kola Adesina     Kayode Issa     Senior Special Assistant On Student Affairs     Arandun     Isin     Hassan A. Saliu     A.G.F Abdulrasaq     3MTT     Forgo Battery     Kamaldeen Gambari     Emmanuel Bello     Ahmad Lawan     Biliaminu Aliu     Coalition Of Kwara North Groups     Oloye     IDPU     PharmAccess Foundation     Asa LGEA School     Dagbalodo     Hassanat Bello     Olayinka Are     Omu Aran     Mumeen Lah     Ope Saraki     Allocation     Oluwarotimi Boluwatife Adenike     Babaloja-General     Abiodun Jacob Ajiboye     Garment Factory     Folashade Omoniyi     Ibrahim Sulu Gambari     Tsaragi     Ayo Opadokun     Abdullateef Abdussalam     Oke Sunna     Aremu Bose Deborah     Grillo     Assayomo     Abraysports FC     Hikmah AbdulKareem     Rotimi Atere     Isiaka Rafiu Mope     Rex Olawoye     Ilorin Durbar     Ilorin Anchor Men And Women     Owode Market     Ilorin Emirate     IF-K     Talaka Parapo     Tunde Saad     David Oyedepo     11th Galadima     KWTV     Fatai Olodo     Leke Ogungbe     Markaz Arabic And Islamic Training Institute, Agege     Oko     Nigerian Army     Abdulfatai Ahmed     Okeose Christian Cementary    

Cloud Tag: What's trending

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

Ajidagba     Olabode George Towoju     Gabriel Fashanu     Elerin Of Erin-Ile     JSSCE     Lawyers Unite Against Corruption     Ilorin South     Kamaldeen Ajibade     Oloruntoyosi Thomas     Awodun     Dan Iya     Kishira     Post-utme     Olugbense     Kwara Hotel     Kwara Basketball Association     Bond     Centre For Community Empowerment And Poverty Eradication     Ibraheem Abdullateef     Saidu Yaro Musa     Ahman Patigi     Kwara Coalition Of Business And Professional Associations     Aremu Odolaye     Yahaya Jibril Usman     Ibrahim Mohammed     Abdulkadir Akanbi-Oke     Ilorin Like-Minds     Olufolake Abdulrazaq     Isau     Basit Olatunji     Kwara State Polytechnic     Makama Of Kaiama     Saidu Kawu     Taofik Abdulkareem     Moshood Bakare     Yusuf Ali     AbdulGaniyu Kareem     KWASIEC     Sarah Alade     Rebecca Olanrewaju     Shururat Olatinwo     Chartered Institute Of Personnel Management Of Nigeria     Aisha Abodunrin Ibrahim     Abatemi-Usman     Chief Of Staff     Ajike People Support Centre     Oye Tinuoye     Balogun-Ojomu     Abubakar Lah     Apaola     Tunde Idiagbon Road     Budo Egba     Kayode Alabi     Share/Tsaragi     Marafan Shonga     Mopelola Abdulmaliq-Bashir     Mukhtar Shagaya     Saka Saadu     Jaigbade Alao     Nagode     Sulyman Atolagbe Alege     Salman Alada     Kudirat Arinola Lawal     Sola Saraki Educational Foundation     Ramadan     Oba-Solagberu     Isiaka Abdulrazak     Lawal Arinola Kudirat     CT Ayeni     Ibrahim Oloriegbe     Tafida     Iyabo Adewuyi     Olatinwo     Oko     Hydro-electric Power Producing Areas Development Commission     Abdullahi AbdulMajeed     20 Billion Bond