Rice Prices Drop in Kwara as Naira Strengthens
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.
Labour Party Olayinka Oladapo Jogunola Sabi Mahmud Durosinlohun Atiku Abatemi Usman Ilesha-Baruba-Gwanara Dunmade Deji Ajani Islamic Development Bank Ilorin Airport Shehu Salau Mustapha Akanbi Oba Sulaiman Asude Oladimeji Thompson Ayo Opadokun Toyin Saraki Doyin Agbamu Oluwole Dupe Saheed Alakoso Lanwa Ola Falade Isiaka Alikinla Vishvas KOZ Tractors Salmon Babatunde Salmon Nigerian Supreme Council For Islamic Affairs Gbugbu Convocation Ceremonies Dankaka Emir Of Kano Oju Ekun Sarumi Obasanjo Isaac Aderemi Kolawole Atunwa Code Of Conduct Bureau Saad Omo Iya Kabir Shagaya Gobirawa Sadiq Umar Oniyangi NIPR Ahmed \'Lateef TVC Female National Debate Abdullahi AbdulMajeed Ebun-Olu Adegboruwa Www.Kwarareports.com Biliaminu Aliu Pacify Labs Bamidele Adegoke Oladimeji Sardauna Of Ilorin Ajia-Bako Bayo Ajia Press Release Segun Abifarin Markaz Arabic And Islamic Training Institute, Agege Alaaya Erubu Agbarigidoma Asiwaju Bola Tinubu Umar Ayinla Saro Taiwo Joseph Yetunde Balogun JMK Construction Company Limited Abdullahi Saadudeen Alikinla COVID Yusuf Mubarak Olufolake Abdulrazaq Aishatu Ahmed Gobir Umar Adelodun Muhammadu Gobir Hijaab Muftau Akanbi Oke Saliu Ajibola Ajia Academic Staff Union Of Universities Idofin Kwara State Coalition Of Business And Professional Associations Quarry Royal Valley Alfa Yahaya Road

