Beans price crashes by over 100% amid increased yield

The Cowpea and Beans Farmers, Processors and Marketers Association of Nigeria (C&BFPMAN) has highlighted high yield, among other factors responsible  for the drop in the price of the produce in the country. The president of C&BFPMAN and some traders disclosed the reasons for the price drop in separate interviews with the News Agency of Nigeria […]

The Cowpea and Beans Farmers, Processors and Marketers Association of Nigeria (C&BFPMAN) has highlighted high yield, among other factors responsible  for the drop in the price of the produce in the country.

The president of C&BFPMAN and some traders disclosed the reasons for the price drop in separate interviews with the News Agency of Nigeria (NAN) on Sunday in Lagos.

NAN reports that as at the second and third quarters of 2024, the price of beans increased astronomically to between N210,000 and N240,000 for 100kg as against N90,000 it was sold in 2023.

However, from the first quarter of 2025, the produce witnessed a steady decline in price.

• Plateau mops up excess eggs for schools, hospitals, others
• Taraba Lawmaker Empowers Farmers with ₦25 Million Worth of Fertilizer

A bag of 100kg currently sells between N80,000 and N120,000, depending on the specie.

Speaking on the reasons for the drop in the price of the produce, Mr Kabir Shuaibu, C&BFPMAN president, said increased harvest was the reason for the drop in price.

“We are glad the price of beans and cowpeas in general has dropped since the harvest from last year. We harvested over 10 times what we usually harvested in the past years.

“The main reason for the drop in price is the increase we got from our cultivation. This implies that with increased supply of the produce, the price will drop.

“The reason for the hike in the price of beans last year was due to poor harvest in the previous year.

“You can imagine a farmer who planted in a hectare of land and expecting bags of beans but was only able to harvest a few bags due to flooding.

“Currently, a bag of beans up North costs between N80,000 and N120,000, depending on the specie you are buying. This time last year, due to poor harvest, the same bag sold between N210,000 and N240,000.

“We hope for continued increase in harvest as it benefits both farmers and consumers,” Shuaibu told NAN.

A wholesaler, Mrs Esther Umeileka, the managing director of Fresh2Home Ltd, Lagos, attributed the price drop to increased yield and less infestation of the produce as witnessed in the previous year.

“Last year, there was a case of insect attack, which affected the produce. This year, we have a lot of produce that crashed high prices.

“Another reason for the drop in the price of beans is that this year, the yield is quite high,” Umeileka said.

Another beans trader at Oyingbo market, Mrs Zainab Ahmed, said patronage increased since the drop in price.

“The hike in the price of the produce last year was not easy for our customers. They would just ask for the price and walk away. But now, everybody seems to be able to afford beans for their families again as the price has dropped to about N6,000 to N7,000 for a paint bucket as against N13,000 to N14,000 it was sold last year,” Ahmed said. (NAN)