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.

2017 Budget     Musibau Akanji     COEASU     Garba Idris Ajia     Nigeria Association Of Women Journalists     Moronfoye     Mahmud Babatunde Baker     Ramadan     Babs Iwarere     Esuwoye     Ballah     Shettima Of Ilorin     Budo Egba     Kawu     Abdulazeez Uthman     Valsolar-Kwara Company Limited     TESCOM 2025     JSSCE     Florence Saraki     Afolayan     Senate President     Chief Imam Of Lafiagi     Abikan     Aisha Gobir     Kaiama     Tunde Yusuf     Falokun-Oja     Voices Of Tomorrow     AbdulQowiy Olododo     Centre For Community Empowerment And Poverty Eradication     Saraki     KWSIEC     Kwara State University Of Education     Funmilayo Oniwa     Abdulrahman Abdulrasaq     Niyi Ogundiran     Bank Of Industry     Local Government     Oniwasi Agbaye     Ado Bayero     Micheal Imoudu     Oyeyemi Olasumbo Florence     Khairat Gwadabe     Abatemi Usman     Kayode Yusuf     Alliance For Democracy     Balikis Jawondo     Salaudeen Oyewale     Tuesday Assayomo     Rotimi Samuel Olujide     Ibraheem Adeola Katibi     Kwara Hotel     Kannike     Lukman Adeloyin     Shururat Olatinwo     Saba Jibril     Nupe     Abdulganiyu Oladosu     Dauda Adeniran Adeshola     AbdulGafar Tosho     Mohammed Abduraheem     General Hospital, Ilorin     Innocent Okoye     Joseph Daudu     Muhammed Taofeeq Abdulrazaq     Busari Toyin Isiaka     Ibrahim Oloriegbe     Abatemi-Usman     Kwara State Television     Stephen Fasakin     Sai Kayi     Ramadhan     Ahmed Alhasssan     Abdulrahman Abdulrazak     Sheikh Ridhwanullah El-ilory     Seun Bolaji     Jani Ibrahim    

Cloud Tag: What's trending

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

Millennium Development Goals     Jaiz Bank     Fawenu     Afolabi-Oshatimehin     Charles Ibitoye     KWASIEC     General Tunde Idiagbon International Airport Ilorin     Olukotun Of Ikotun     Okiki     Durbar     Y.A. Abdulkareem     Wahab Abayawo     Nigeria Foundation For Artificial Intelligence     Ahmad Uthman     Adamu Atta     Saliu Mustapha     Aisha Ahman Pategi     Otoge     General Hospital     AbdulFatai Adeniyi Dan-Kazeem     Shuaib Boni Aliyu     AGM Professional Services     CCEPE     Orisun Igbomina     Obasanjo     Shehu Jimoh     Share-Tsaragi     Sam Okaula     Tosin Saraki     Bayer Nigeria Limited     11th Galadima     Abdullah Janet Amudat     Moji Makanjuola     Isiaka Oniwa     KWSIEC     Opobiyi     Nurudeen Mohammed     Ahmad Olayiwola Kamaldeen     Hassanat Bello     Umaru Saro     Kumbi Titiloye     Oyin-Zubair     Dan-Kazeem     Sanusi Abubakar     Salihu Jibril Garbi     College Of Arabic And Islamic Legal Studies     NTA Ilorin     James Kolo     Al-Hikmah Radio     Kwara State Infrastructure Development Fund     Ahmed Dankaya     Park     Saidu Isa     Apado     IYA YUSUF     Oloruntoyosi Thomas     Seni Saraki     Oniwasi Agbaye     Dogara     Kulende-UITH     Yakubu Gobir     KWTV     Monsurat Omotosho     Government High School Adeta     Buhari     Apata Ajele Secondary School     Shehu Alimi Foundation     Islamiya Abdulraheem     Democracy Day     Royal FM     Okala Baba     Senate President     Kwara Basketball Association     Benin Republic     Owode Market     Tafida Of Kaiama     Yusuf Badmus