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.

Hajj     Kayode Yusuf     Offa Poly     Mahfouz Adedimeji     Saka Aleshinloye     Abdulmumini Jawondo     Babaloja-General     Afeyin-Olukuta     Ayinke Saka     Oyin-Zubair     Mopelola Abdulmaliq-Bashir     Tayo Alao     Amuda Bembe     Unilorin     Dunmade     Isiaka AbdulRazaq     Femi Agbaje     NNPP     Oke-Odo     Voices Of Tomorrow     Young Progressives Party     Lateef Ademola Olatunji     April 11     Kwara State Geographic Information Service     Anilelerin     Tunde Mukaila Mustapha     Sidikat Alaya     KwaraLearn     Bayer Nigeria Limited     Sai Kayi     Centre For Peace And Strategic Studies     Tafida Of Ilorin     Wasiu Onidugbe     Tafida     Abdulwahab Oba     Saliu Ajia     C2c@kwarastate.gov.ng     Isaac Gbenle     Doyin Group     Pacify Labs     Gobirawa     Arinola Lawal     Kwara TV     Islamiya Abdulraheem     Wasiu Odewale     KWASSIP     Hikmah AbdulKareem     John Obuh     Police Commissioner     Kwara State Health Insurance Agency     Balogun Fulani     Women For Change And Development Initiative     Ajikobi     Hassan Abdulazeez Elewu     Radio SBS     Adijat Adebiyi     Muideen Olaniyi Alalade     Oro Grammar School     Centre For Digital Economy     Ibrahim Labaika     Bukola Ajikobi     Olota Of Odo-Owa     Aasiyat Bello Oyedepo     Aminat Omodara     Opolo Global Innovation Limited     Ahmad Lawan     Akanbi-Oke     Sam Okaula     Sabi     Muhammed Mahe Abdulkadir     Abdulrasheed Akogun     CACOVID     Dan Iya Of Ilorin     Abiodun Jacob Ajiboye     Oladipo Akanmu Tolani     Yomi Adeboye     Adedayo Yusuf Abdulkareem    

Cloud Tag: What's trending

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

Abubakar Usman Jos     Asa LGEA School     Saka Onimago     SWAN     Aisha Ahman-Pategi     Harmony Holdings     Sheikh Hamzat Yusuf Ariyibi     Oja-Oba     Idris Garba     Ahmed \'Lateef     Coalition Of Kwara North Groups     Kisra     Saidu Isa     Gamji Members Association     Kwara Poly     Sango-UITH Road     Computer Based Test     Ariyo     Aliyu Muhammad Saifudeen     Kolo     Jelili Yusuf     Abdulmumin Yinka Ajia     Obayomi Azeez     Matthew Babaoye     Muhammed Abdullahi     Ahmed Alhasssan     Bashiru Makama     Afolasade Opeyemi Kemi     Yusuf Arowosaye     Isiaka Gold     Tunde Saad     Gani Saadu     COVID     Baba Isale     Tosin Saraki     Suleman Abubakar     Aliyu Kora Sabi     Toyosi Thomas     Saba Mamman Daniel     Ahman Patigi     Yusuf Abubakar     Henry Olaosebikan     Ganiyu Abolarin     Kwara State Printing And Publishing Corporation     The Herald     Sheriff Olanrewaju     Olatunji Bamgbola     Haruna Tambiri Mohammed     Buari Edun     Simon Sayomi     Deji Ajani     Mohammed Lawal     Ilorin Likeminds Foundation     Saeedat Aliyu     Post-utme     Yoonus Lawal     Riskat Opakunle     Owode Market     Oke-Ero     Modupe Oluwole     Yusuf Mubarak     Sobi     Yakubu Shaaba     Ibrahim Gambari     Mutawali     Ridhwanullah Al-Ilory     Edu     Aremu Odolaye     Ministry Of Women Affairs And Social Development     Sola Saraki University     Zulkifli Ibraheem     Wahab Olasupo Egbewole     Bello Taoheed Abubakar     David Adesina     Damilola Yusuf     Demola Banu     Bolaji Abdullahi