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.

Computer Based Test     NTA Ilorin     Abdulsalam A. Yusuf     April 11     Forgo Battery Company Limited     KFA     Garuba Alikinla Shittu     NURTW     United Nigeria Congress Party     Tinubu Legacy Forum     Kwara Liberation Group     Ganmo Electricity Sub-Station     Bayo Lawal     Isiaka Saka Opobiyi     Adaramaja     Abdulwahab Oba     SGBN     Offa Grammer School     Albert Ogunsola     Kwara State Council Of Chiefs     Saadu Yusuf     Damilola Yusuf Adelodun     Toyin Falola     Ilorin Emirate Stakeholders Forum     Abubakar Baba Sulaiman     Aasiyat Bello Oyedepo     Muhammad Akande Olarewaju Odunade     Salary     Dan Iya     Sola Saraki Educational Foundation     Mahmud Ajeigbe     Musa Alhassan Buge     Gbemi Saraki     Olatomiwa Williams     Sulaiman Gado     Danladi     Abdulquowiyu Olododo     Ishaq Abdulkarim     Sa\'adu Salau     Rotimi Oyedepo     Shagari     Yahaya Oloriegbe     Ijagbo     Mustapha AbdulGaniyu     COVID     Simeon Ajibola     Share-Tsaragi     Rabiu Kwankwaso     KWASAA     Yahaya Seriki     Medinat Folorunsho Salman     Olatinwo     Tinubu     Budo-Egba     Kemi Adeosun     Saka Adeyemo     Kamoru Kadiri     Folashade Omoniyi     Orire     Hakeem Lawal     Folaranmi Aro     Village Alive Development Association     Muhammad Ghali Alaaya     Yunus Oniboki     Osuwa     National Democratic Congress     Abdullahi Dasilva Yussuf     Tunji Moronfoye     Bolakale Saka     Usman Yunusa     Centre For Community Empowerment And Poverty Eradication     Yusuf Zulu-Gambari     Adebayo Mohammed Kamaldeen     Bamidele Aluko     Basit Olatunji     Kehinde Boyede     Stephen Fasakin    

Cloud Tag: What's trending

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

Salary     Mohammed Kamaludeen     Abiodun Abdulkareem     Ridwan Agboola     Oba Abu     Doyin Group     Adamu Ibrahim Sabi     Oke-Ero     John Kehinde Salako     Oyedepo     Jebba     SARS     Osuwa     Kwara NIPR     Bello Taoheed Abubakar     Umar Adelodun     Awoye     Kamaldeen Kehinde     Suwa-Arabs     Bature Bello     Budo-Egba     Olateju Lukman     Muftau Akanbi Oke     Sulu Babaita Isiaka     Rebecca Olanrewaju     SAPZ Project     Oro Grammar School     Ibrahim Agboola Gambari     FOMWAN     Ghali Muhammed     Moshood Kashimawo Abiola     Gbadeyan Gbadura Yomi     Logun     Plat Technologies     Lanwa     Salman Suleiman     Bahago     Police Commissioner     Pakata Patriots     Bureau Of Lands     Shade Omoniyi     Javed Khan     Olatomiwa Williams     Abdulfatai Salman Baakini     Binta Sulyman     General Tunde Idiagbon International Airport Ilorin     MINILS     Issa Oloruntogun     Abatemi Usman     Kwara State Pension Board     Abikan     Olatunde Oyeyiola     Yahaya Jibril Usman     Ita-Nmo Market     Isapa     Saka Abimbola Isau     Ganiyu Abolarin     Raji AbdulRasaq     Tinubu Legacy Forum     Yahaya Muhammad     Asa LGEA School     Rachael Obisesan     Lanre Badmas     Mohammed Ghali Alaaya     Atiku     Binta Abubakar-Mora     Yusuf Zulu-Gambari     Olaiya Victor Mobolaji     Adebayo Salami     Minister     Kwara Liberation Group     Na\'Allah     Abdulwahab Ololele     Vishvas KOZ Tractors     Sulyman Tejidini     Sheikh Ridhwanullah     NURTW