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.

Yetunde Balogun     Ilorin General Hospital     Saidu Kawu     High Court     Usman Alkali Baba     Gbemisola Saraki     Yusuf Babatunde Abdulwahab     Ibrahim Labaika     Saliu Alamoyo     Unicontinental Construction Company     Tinubu Legacy Forum     Saadu Yusuf     Alimi Abdulrazaq     David Adesina     Dan Iya     Earlyon Technologies     Balikis Jawondo     Egbewole     Charcoal     Lukman Oyebanji Fagbemi     Christopher Odetunde     Bluenile Associates     Frootify     Madawaki Of Ilorin     Abdulganiyu AbdulAzeez     Raji AbdulRasaq     IDPU     Shehu Adaramaja     Apaola     Radio SBS     Kwara University Of Education     Shehu Alimi Foundation For Peace And Development     Lai Mohammed     Saba Jibril     Abubakar Atiku     Amos Bajeh     Akorede     AbdulHakeem Ajibola Akanbi     Ajayi Okasanmi     Obuh     Bolaji Aladie     Femi Oladiji     Kwabes     Yahaya Abdulkareem     TIIDELab     Ayodele Shittu     Federal Allocation     Olota Of Odo-Owa     Oba Abdulrahim     Roheemat Hammed     Ibrahim Oniye     Oluwatoyin Lukman     Press Release     IHS Towers     Manzuma     Unilorin     Adama Isa     Galadiman Ngeri     All Confederation Of Principals Of Secondary Schools     Lanwa     Galadima     Paul Olawoore     ITP     Abioye Bello     Oyun     Fatima Abolore Jimoh     Fatimoh Lawal     Noah Yusuf     Ishak Mohammed Sabi     Babata     Tafida Of Kaiama     Sunday Popo-Ola     Kola Adesina     Muhammad Yahya     YAKOOYO     Lotus Bank     Abdul-Rahoof Bello    

Cloud Tag: What's trending

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

Alanamu     Benin Republic     Unilorin FM     Sulaiman Gado     Radio Kwara     Yusuf A. Usman     Yahaya Abdulkareem Babaita     Gurei     Jaiz Bank     Kpotum Mohammed Baba     Shero     Tescom.kwarastate.gov.ng     Hassanat Bello     Ibrahim Jawondo     Sobi FM     Abdulazeez Arowona     GANZY     JAMB     Muhammad Akande Olarewaju Odunade     Olatunji Ayeni     Joseph Bamigboye     Isiaka Abdulrazak     Oyedun Juliana Funke     SUBEB     Bayo Onimago     Alaro     Buari Edun     Lawal Arinola Kudirat     ANCOPPS     Saliu Oluwole     Ajibike Katibi     Basic Education Certificate Examination     Akom Construction And Engineering Synergy Ltd     Abraysports FC     Kwara Pdp     Kunbi Titiloye     Musa Yeketi     Idi-Ape     Sobi     Madawaki     Alabi Olayemi Abdulrazak     Adedipe     Abatemi Usman     Share-Tsaragi     Stephen Fasakin     Bashir Badawi     Amos Justus Sayo     Oju Ekun Sarumi     Summit University     Fulani     Jumoke Monsura Gafar     Kanu Agabi     Mubarak Oladosu     Ahmed Mohammed Rifun     KWASAA     Niyi Ogundiran     Abdulrauf Aliyu     Ishola Moses Abiodun     Ghali Alaaya     Moremi High School     Raliat Islamic Foundation     Joseph Offorjama     Olusin Of Ijara Isin     Ashiru     Muslim Stakeholders Of Kwara State     Quranic Recitation Competition     Olawuyi     Madawaki Of Ilorin     Fatai Adeniyi Garba     Oyelere Oyinloye     Sidikat Alaya     Neo Mundo Ltd     Alao Ayotunde     Harafat E. Mukadam     Adebayo Salami     Abdulrasheed Akogun     Binta Abubakar-Mora