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.

IsDB     Muyiwa Oladipo Kanu     Ministry Of Women Affairs And Social Development     Muhammed Aliyu     Abiodun Abdulkareem     Zubair Folorunsho Erubu     GGDSS Pakata     FERMA     Abdullahi G. Mohammad     Usman Alkali Baba     Owo Isowo     Tunde Kazeem     Shao     Oyeyemi Olasumbo Florence     Ubandoma Of Ilorin     Paul Odama     Saad Belgore     Abubakar B.M     T And K FOODS     Alabere     Ishaq Oloyede     Na\'Allah     Muritala Olarewaju     Ayobami Seriki     Abdulkadri Ahmad Alaiye     Monthly Sanitation     3MTT     Smart School     Bayer Nigeria Limited     Eleja Taiwo Banu     Quranic Recitation Competition     Idowu Laro     Modibbo Kawu     NFAI     Trader Moni     Emmanuel Olatunji Adesoye     Hydroelectric Power Producing Areas Development Commission     Joshua Adeyemi Adimula     Kisra     Voices Of Tomorrow     Olabode George Towoju     Durbar     Yakub Lai Gobir     Emmanuel Bello     Ubandawaki     Ibrahim Abdulqadir Abikan     Ishaq Salman     Sarah Alade     Yusuf AbdulRasheed     Ijagbo     Modupe Oluwole     Is\'haq Modibbo Kawu     Shehu Jimoh     Mohammed Ibrahim     Abdulrahman Abdulrasaq     Musibau Akanji     Mogaji Aare     Nigeria Computer Society     Yahaya Seriki Gambari     Tanke     Ilorin Durbar     Aro Yahaya     AGF Abdulrazaq     Hameed Oladipupo Ali     Kwara NIPR     Abdulhakeem Amao     Saad Omo Iya     Pategi     Dagbalodo     Allocation     AbdulRasaq Abdulmajeed Alaro     Elewu     Saliu Mustapha     MMWG     Ilorin Emirate Stakeholders Forum     Ahmed Bolaji Nagode     Arinola Fatimoh Lawal    

Cloud Tag: What's trending

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

Ibrahim Abikan     Kwara 2015     CACOVID     COEASU     Olabode Towoju     Jawondo     Savannah Centre For Diplomacy, Democracy And Development     New Nigeria People’s Party     Mustapha AbdulGaniyu     Taofik Abdulkareem     Fatimoh Lawal     Idiagbon     Paul Olawoore     Haashim Initiative For Community Advancement     Oyun     Mahmud Babatunde Baker     Belgore     Mohammed Lawal Bagega     Bello John Olanrewaju     Amosa     Ibrahim Agboola Gambari     Doyin Agbamu     Ilorin Curfew     Salihu Alhaji Musa     Lasiele Alabi Yahaya     Abdulrasheed Lafia     Sheikh Alimi     Bola Iyabo Ibiyeye Adisa     Fola Consultant     Oke-opin     Isiaka Yusuf     Gbenga Awoyale     AIT Ilorin     REO CAKES     Ahman Pategi University     Metro Park     Abdulrahman Abdullahi Kayode     Shuaib Jawondo     Khadijat Ayoola Yusuf     Awodun     Vasolar Consultoria     Solomon Edoja     Code Of Conduct Tribunal     Turaki     Shehu Salau     Twitter     Yekeen Alabi     Abdulrasaq Alaro     IEDPU     Apaola     Hussein Olokooba     Bello Oyedepo     Sa\'adu Gambari     Egbejila     Abubakar Abdulraheem     Jaiz Bank     Amos Justus Sayo     Kwara State Governor     Hamidat Sulyman-Yusuf     Rex Olawoye     Muslim Cementary     Gobirawa     Ambassador Kayode Laro     Gbugbu International Market     Oke-Odo     Dele Belgore     Kwara Coalition Of Business And Professional Associations     Gobir     Gurei     Nurudeen Muhammed     Third Estate     Abdullateef Abdussalam     Aliyu Kora Sabi     Abdulrahman Onikijipa     Tunji Arosanyin     KSIRS     Kubra Kazum