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.

Idris Amosa Saidu     Senior Special Assistant On Student Affairs     Cassava Growers\' Association     Ophthalmological Society Of Nigeria     Onilu     Aliyu Muhammad Saifudeen     Fatai Adeniyi Garba     Ahman Pategi University     Esinniobiwa Quareeb     Bello Bature     CKNG     Titus Ashaolu     Young Progressives Party     Razak Atunwa     Alimi Abdulrazaq     Valsolar Consortium     Village Alive Development Association     Oke-Oyi     Zubair Folorunsho Erubu     Bluenile Associates     Musa Ayinla Yeketi     HAMFAT Clinic And Maternity     Tafida Of Ilorin     Bashir Badawi     Cornelius Fawenu     Moses Afolayan     PPS     Kwara-SAPZ Project     Amusement Park     Kayode Ogunlowo     Wahab Femi Agbaje     Umar Danladi Shero     Goodluck Jonathan     Alao Ayotunde     KWASSIP     Abdullahi Biffo     General Hospital, Ilorin     Bayer Nigeria Limited     Isiaq Khadeejah     Babs Iwarere     Maimunat Oniyangi     Kwara State Television     Razaq Atunwa     AGM Professional Services     Unicontinental Construction Company     Abdulrazaq Sanni     Ibrahim Abdullahi     Rotimi Samuel Olujide     Ogidi-Oloje     Sunset Workers     Niyi Ogundiran     Pakata     Vasolar     Oke-Ode     Yahaya Seriki     KWATMA     Paul Odama     Edret Sabi Abel     Baboko     Dapo Teni Nig Enterprise     Eghe Igbinehin     Adamu B. Yaqubu     Shuaib Olarongbe     Ariyo     Olukotun Of Ikotun     Theophilus Oyebiyi     Buari Edun     Ganiyu Abolarin     Agor Market     Hajj     Sanitation Exercise     Mahmud Ajeigbe     Oko-Olowo     Madawaki     Gaa Olobi     Ibrahim Mashood     Abdulkadir Remi Hawawu    

Cloud Tag: What's trending

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

Ilorin West/Asa Federal Constituency     Gambari     Saidu Isa     Aliyu Alhassan     Www.Kwarareports.com     Teachers Specific Allowance     Mohammed Danjuma     Kubra Kazum     Kwara State Government     Sulyman Atolagbe Alege     Minimum Wage     AbdulKareem Yusuf Danhawa     Muideen Olaniyi Alalade     Arandun     Is\'haq Modibbo Kawu     Joana Nnazua Kolo     Ezekiel Yissa Benjamin     T And K FOODS     Ileloke     Just Event Online     SSA Youth Engagement     Hydroelectric Power Producing Areas Development Commission     Shuaib Olarongbe     Ita-Ore     Kola Bukoye     Garuba Alikinla Shittu     Hassanat Bello     Kaiama     IYA ALFA NLA     Kale Belgore     Ahmad Lawan     Gobir Organization Foundation     Oloriegbe     Olatunji Moronfoye     Temi Kolawole     Kwara South     Abraham Ojo     EFCC     Sherif Sagaya     Mohammed Katsina Ahmed     Oladipo Akanmu Tolani     Ilorin East/South Federal Constituency     Fola Consultant     All Peoples Party     Ali Ahmad     Abdulraufu Mustapha     Jide Ashonibare     Post Utme     Yahaya Seriki     Share-Tsaragi     Sheikh Ridhwanullah El-ilory     Senior Special Assistant On Student Affairs     Aliyu U. Tilde     Marafan Shonga     Saliu Tunde Bello     United Nigeria Airline     Madawaki     Ilorin General Hospital     Mohammed Yahaya Barki     Talaka Parapo     Elections     Bayo Ojo     Adesoye College     Kayode Bankole     Chikanda     Senate     Kwara State Television (KWTV)     Basit Olatunji     Adeniyi Ojo     Dan Masanin     TIIDELab     Amosa     Apaokagi     Abiodun Oyedepo     Chief Imam Of Lafiagi     Daud Adeshola     Omotosho