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.

AbdulRahman Saad     Ariyo     Yahaya Dumoye     Federal Neuro-Psychiatric Hospital     Taofeeq Olateju     Ishaq Salman     Abdulrazak Shehu Akorede     Abdul-Rasheed Na\'Allah     Lanre Jimoh     Abdulrahman Abdulrasak     Wahab Issa     Muslim Cementary     Elerin Of Erin-Ile     Abubakar Ndakene     Galadiman Ngeri     Iliasu     MAI Akande     Yusuf Ibitokun Sherifat     Saliu Ajia     Lukman Adeloyin     TIIDELab     Maigida Soludero Transit     COVID     Kwara South     Colleges Of Education Academic Staff Union     Saka Aleshinloye     Aisha Buhari     Iyeru Grammar School     Sa\'adu Gambari     Peter Obi     Mohammed Danjuma     Umar Gunu     Esinrogunjo     Farouk Salim     Abdulfatai Ahmed     Oniye     UNILORIN Alumni     Maryam Ado Bayero     Yusuf AbdulRasheed     Shuaib Olarongbe     Babata     Oyun     Rihanat Ajia     Rebecca Bake     Amoyo     Abdulrahman Iliasu     Habeeb Saidu     Siraj Oyewale     Economic And Financial Crimes Commission     Shao     Osuwa     Ibrahim Bio     Bamikole Omishore     Ahmed \'Lateef     AbdulHamid Adi     Rafiu Ajakaye     IESA     Riskat Opakunle     Centre For Peace And Strategic Studies     Isau     Salihu Yahaya     Ridhwanullah Al-Ilory     Makama Of Kaiama     TESCOM     Gbugbu International Market     Mustapha AbdulGaniyu     Kwara State Sports Commission     Wahab Olasupo Egbewole     Pategi     Oluwarotimi Boluwatife Adenike     Tunde Kazeem     Dele Momodu     Jalala     Katibi Ibraheem Adeola     Rabiu Kwankwaso     Abdulfatah Ahmed     Mary Kemi Adeosun    

Cloud Tag: What's trending

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

Ramadan     Adewuyi Funmilayo     NAWOJ     Tunde Kazeem     Bello Oyedepo     Adamu Ibrahim Sabi     COVID-19 Palliatives     Coronavirus     Bayo Ojo     Ibrahim Sulu Gambari     CT Ayeni     Ilorin South     Vasolar Consultoria     Idowu Laro     Bello Taoheed Abubakar     Kawu Baraje     Aliyu Muyideen     Diagnostic Centre     Egbewole     Yahaya A Paniyaro     Mogaji Aare     Dorcas Afeniforo     Abdulrazaq Adebayo     Adamu B. Yaqubu     Saadu Alanamu     VADA     Sarah Jubril     Adeniyi Ojo     Seun Bolaji     Ganiyu Abolarin     Women For Change And Development Initiative     Mumeen Lah     Paul Olawoore     Oasis Muslim Care Foundation     Moronfoye     Salman Alada     Durbar     Nigeria Governors\' Forum     Olaitan Buraimoh     Oke-Ode     AbdulGaniyu Kareem     AbdulQowiy Olododo     Aliyu Umar     Village Alive Development Association     Yakubu Dogara     Lanwa     IF-K     Pilgrims Board     Surajudeen Akanbi     Umar Adelodun     Solomon Edojah     Mujtabah Bature     Oko     Women Radio     ER-KANG Mining     Ajidagba     Baba Issa     Lanre Jimoh     Kannike     AbdulKareem Yusuf Danhawa     Kupchi Hosea Maxwell     Siraj Oyewale     Baba Adini Of Kwara State     Ambassador Kayode Laro     Oba-Solagberu     Oko-Erin     Adesina Simon Sodiya     Tayo Awodiji     Nigerian Supreme Council For Islamic Affairs     Bayer AG     Playing Host     Doyin Group     IYA ALFA NLA     Iponrin     Roseline Oni Aremu     Obuh     David Adesina