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.

Toyin Saraki     Abdullahi Biffo     Sheikh Ridhwanullah El-ilory     Kwara State Printing And Publishing Corporation     Abdulrauf Yusuf     Monthly Sanitation     Ijagbo     AbdulGafar Tosho     Allocation     Sadiq Umar     Clement Yomi Adeboye     Bluenile Associates     Kwara State Branch Of The National Library     Kwara State Internal Revenue Service     Sola Saraki Educational Foundation     Special Agro-Industrial Hub     Samuel Elizabeth Keatswa     UNILORIN Alumni     Alaaya     Musa Aibinu     Oasis Muslim Care Foundation     Muhammed Akanbi     Mohammed Tunde-Jimoh     Oro Grammar School     Sheikh Hamzat Yusuf Ariyibi     Taibat Ayinke Ahmed     Just Event Online     Matthew Babaoye     Abdulsalam A. Yusuf     Oba Abdulraheem     The Herald     Abdulbaqi Jimoh     Bibire Ajape     Ishola Moses Abiodun     Ahmad Fatima Bisola     Funke Adedoyin     Christopher Tunji Ayeni     Sidikat Alaya     Akanbi-Oke     Mahmud Ajeigbe     Abdul-Rahoof Bello     AbdulRazaq Jiddah     Olaoye B. Felix     Kwara Teaching Service Commission     KWSUED     Saka Balikis Kehinde     Isiaka Alikinla     Agbarere     Mohammed Katsina Ahmed     General Hospital     Ibrahim Labaika     Segun Adeniyi     Ilorin Emirate     Yakub Ali-Agan     Bola Tinubu     Abikan     Binta Sulyman     Kale Belgore     Aremu Bose Deborah     Hassan Saliu     Saad Omo Iya     Babatunde Ishola Babaita     Garment Factory     Ilorin Innovation Hub     Kehinde Boyede     Bayo Lawal     Ayekale     Wahab Kunle Shittu     Public Holiday     Olabode George Towoju     International Aviation College     Al-Adaby     S.O. Opowoye     Abdulazeez Uthman     Tosho Yaqub     Bello Oyebanji     Folorunsho Alao    

Cloud Tag: What's trending

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

Ethical College     International Public Sector Accounting Standards     Saka Aleshinloye     Budo Egba     Ubandoma     Otunba Taiwo Joseph     Shagari     Clement Yomi Adeboye     CELF     Taofeek Sanusi     Iyeru Grammar School     Yusuf Ibitokun Sherifat     KWAFFA     Toyin Olayinka Tejidini     Usman Alkali Baba     Seun Bolaji     Sa\'ad Alanamu     Muhammadu Buhari     Falokun-Oja     Afolabi-Oshatimehin     JAAC     Saad Omo Iya     Olaosebikan     Okedare     Public Holiday     Revenue Court     Abdulfatah Ahmed     Idris Garuba     Saudat Abdulbaqi     Mohammed Abdulahi     Abdulkadir Orire     Alfa Modibo Belgore     Igbaja     Orisa Bridge     Mumeen Lah     AGF Abdulrazaq     Kanu Agabi     Yusuf Amuda Aluko     Joana Nnazua Kolo     Forgo Battery Company Limited     Saeedat Aliyu     Vasolar Consultoria     Yahaya Abdulkareem Babaita     Jimoh Saadudeen Muhammed     Yahya Mohammed     Ohoro Of Shao     Suleiman Mora Omar     Ileloke     PharmAccess Foundation     Frootify     Magaji Erubu     Tosin Saraki     Ahmad Belgore     AbdulKareem Yusuf Danhawa     Abdulraufu Mustapha     Raymond Olaitan     Oko Erin     Baruten     Isau     Kayode Alabi     Sulyman Atolagbe Alege     Olatunde Jare     Taofik Abiodun Ahmed     Elerin Of Erin-Ile     Jide Oyinloye     Gbenga Olawepo     Odolaye Aremu     Ashiru     Bashir Badawi     Lai Gobir     Ibraheem Abdullateef     Kayode Zubair     Abdulkadir Jimoh     Abdullah Janet Amudat     Jimoh Akani     Saliu Alamoyo     Allocation