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.

John Dara     Reuben Paraje     Dauda Adeniran Adeshola     Mamman Saba Jibril     Nigeria Customs Service     Yusuf Amuda Abubakar     Kwara Polytechnic     Umar Danladi Shero     Code Of Conduct     Ahmed Idris Mohammed     Salman Suleiman     Fareedah Dankaka     NIPR     Okin High School     Ajike People Support Centre     Hassan Oyeleke     Yusuf Zulu-Gambari     Bankole Omisore     Anilelerin     Sa\'adatu Modibbo-Kawu     Ahmed Ayinla Jimoh     Mahfouz Adedimeji     Shuaib Boni Aliyu     Segun Abifarin     Federal Road Maintenance Agency     Saraki     Usman Rifun     NITDA     Umar Bayo Abdulwahab     Ahmed \'Lateef     Rabiu Kwankwaso     Dele Belgore     Isiaka Abdulrazak     Ahmad Olayiwola Kamaldeen     Geri-Alimi Split Diamond Interchange     Abubakar Usman Jos     Madawaki     Old Oyo     JAMB     Jamila Bio Ibrahim     Muhammed Mahe Abdulkadir     Baba Issa Awoye     Mukhtar Shagaya     Zulkifli Ibraheem     Centre For Peace And Strategic Studies     Bamikole Omishore     Amule     Yahaya Oloriegbe     Shehu Alimi Foundation For Peace And Development     Tunji Ajanaku     AbdulRahman Saad     Towobola Abdulrahman Toyin     Aasiyat Bello Oyedepo     NaAllah     Yashikira     Kwara State Governor     AbdulGaniyu Kareem     Umar Adelodun     Tunji Arosanyin     Yusuf Amuda Aluko     Shoprite     Yeketi     Al-Hikmah University     ITP     Chartered Institute Of Personnel Management Of Nigeria     Hassan Taiye Salam     Computer Based Test     Sabi     Minimum Wage     Lola Ashiru     Wahab Abayawo     MAI Akande     Raimi Iyanda     Ibrahim Taiwo Road     Joshua Adeyemi Adimula     Unilorin     Balogun-Ojomu    

Cloud Tag: What's trending

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

Computer Based Test     Afetu Of Alabe     Jeunkunu-Malete-Bani     Teachers Specific Allowance     ANCOPPS     Sam Okaula     Ayedun     Ilorin South Constituency     Mopelola Abdulmaliq-Bashir     International Public Sector Accounting Standards     Babaloja-General     Alaiye     Ileloke     Christian Association Of Nigeria     KwaraLearn     Kolade Solagberu     Kola Olota     Kwara United     Adolescent Girls Initiative For Learning And Empowerment     New Model Police Station     Muhammad-Mustapha Suleiman     Kamaldeen Kehinde     Kale Belgore     Abdullahi Imam Abdullahi     Senior Ibrahim Suleiman     IHS Towers     Iqra Books     AbdulRauf Keji     Dan Masanin     Yusuf Amuda Gobir     Sabo-Oke     3MTT     Mahfouz Adedimeji     Odolaye Aremu     Saidu Isa     Ita-Ore     Sola Saraki University     Ilesha-Baruba-Gwanara     Umar Danladi Shero     Omupo     Samuel Olusegun Adedayo     Chief Imam Of Omu-Aran     Arik     Goodluck Jonathan     Bolaji Aladie     Baba-Isale     Mumeen Lah     Oja-Oba     AbdulFatai Adeniyi Dan-Kazeem     Jumoke F. Ajao     Suleman Abubakar     Sabi     Haruna Tambiri Mohammed     Isiaka Danmeromu     Olaitan Adefila     Majlis For Sadaqah, Zakat And Waqf     Moji Makanjuola     Jimoh Lambe Abdulkareem     Amos Justus Sayo     Binta Abubakar-Mora     Ado Ibrahim     Sunday Otokiti     Bolakale Kawu     Kabir Shagaya     Onikijipa     Prince Sunday Fagbemi     Mohammed Khadijat Kubura     General Hospital, Ilorin     Madawaki     Senate     Yahaya Dumoye     Raymond Olaitan     Adedipe     Sunset Workers     Akanbi-Oke     A.O. Belgore     Ishak Mohammed Sabi