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.

Abdulkadir Bolakale Sakariyah     Sheikh Hamzat Yusuf Ariyibi     Abdulfatai Salman Baakini     NFAI     Dumagi     Ishola Moses Abiodun     Abdullahi Imam Abdullahi     Abdulazeez Arowona     Dar-Al-Handasah Consultants     Majlis For Sadakah, Zakat And Waqf     Muslim Cementary     Baruba     Iyiola Oyedepo     Amina Susa\'a De Ahmed     Rafiu Ajakaye     Henry Olaosebikan     Kwara State Council Of Chiefs     Okasanmi Ajayi     Yoruba     Adedipe     Ahmed Bayero     Shoprite     Kawu     Kpotum Mohammed Baba     Aisha Ahman Pategi     Hassan Abdulazeez Elewu     Mohammed Khadijat Kubura     NIPR     Gamji Members Association     KWACOBPA     Ahmad Fatima Bisola     Zaratu Umar     Ayo Adeyemi     Kwasu     Aso Ofi     Sheikh Ridhwanullah El-ilory     Fatima Abolore Jimoh     Damilola Yusuf     Saheed Popoola     Razak Atunwa     Kwara State Health Insurance Agency     Babs Iwarere     Raliat Islamic Foundation     Matthew Okedare     Ilorin.Info     Kale Belgore     Agboola Abdulraheem     Babaloja-General     Salihu Alhaji Musa     Micheal Imoudu     Yakubu Dogara     Ubandawaki     Muhammed Taofeeq Abdulrazaq     Oju Ekun Sarumi     Idris Amosa Oladipo Saidu     Eghe Igbinehin     Peter Obi     Bursary     Charcoal     AbdulRazaq Abubakar Jiddah     UTME     Elerin Of Erin-Ile     Olugbense     Ajike People Support Centre     Salihu Ajia     Abubakar Lah     Akanbi-Oke     Yusuf Mubarak     Akeem Olatunji     David Oyerinola Adedunmoye     Aro Yahaya     Ahmad Olanrewaju Belgore     Alfa Belgore     Mohammed Halidu     Khairat Gwadabe     Zulkifli Ibraheem     Oluronke Adeyemi    

Cloud Tag: What's trending

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

Ramadan     Ogidi-Oloje     Wahab Olasupo Egbewole     Ilorin.Info     Baba Issa Awoye     Moro     Alimi Abdulrazaq     Assayomo     Yusuf Badmus     Florence Saraki     Share/Tsaragi     Afetu Of Alabe     Basic Education Certificate Examination     Royal FM     Dan Iya     Abikan     Mufti Of Ilorin     Abdulkadir Jimoh     Abdullahi Adisa Akodudu     Olateju Lukman     NIPOGA     Rasheed Jimoh     Iqra Books     Muhammad Yahya     Ejidongari     Ridwan Agboola     Asa LGEA School     Egbewole     IFK     Ndama Al-hassan     Al-Hikmah Radio     Sardauna Of Ilorin     Suleiman Mora Omar     Rice Farmers Association Of Nigeria     Yusuf Aiyedun     Sa\'ad Alanamu     Kunbi Titiloye     National Union Of Road Transport Workers     Nurudeen Muhammed     Ita-Nmo Market     Saheed Popoola     Mahmud Durosinlohun Atiku     Col. Taiwo     Abdulfatah Ahmed     Gobirawa     Niguel Gallando Marcias     Wahab Agbaje     Kazeem Adekanye     Ahmed Alhasssan     KW-GIS     Ado Bayero     Junior Secondary School Certificate Examinations     Post-utme     Kwara Hotel     Computer Based Test     Arinola Lawal     MMWG     Abdulmalik Bashir Mopelola Risikatullahi     Sulyman Atolagbe Alege     Fatimat Saliu     Ibrahim Abdulqadir Abikan     Kehinde Baale     HICA     Amuda Bembe     LEAH Charity Foundation     Kaiama     Abdullateef Abdussalam     Special Adviser On Digital Innovation     Rueben Parejo     Ahmad Olanrewaju Belgore     Oya State     Idris Amosa Saidu     Alumni Association Of The Federal Polytechnic Offa     Sola Saraki University     Ilorin Metro Park     Temitope Ogunbanke     Abdulrahman Abdullahi Kayode