PRICE OF BEANS CRASHES BY OVER 100 PERCENT

PRICE OF BEANS CRASHES BY OVER 100 PERCENT

The Cowpea and Beans Farmers, Processors, and Marketers Association of Nigeria (C&BFPMAN) has attributed the recent crash in the price of beans and cowpeas to a bumper harvest across farming regions.

Speaking in separate interviews with the News Agency of Nigeria (NAN) on Sunday, stakeholders, including farmers, wholesalers, and consumers, highlighted increased yields, fewer pest attacks, and improved farm access as the key drivers behind the price drop.

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Just last year, a 100kg bag of beans sold for as high as ₦210,000 to ₦240,000, up from ₦90,000 in 2023. But by the first quarter of 2025, the price steadily declined. Today, that same bag goes for ₦80,000 to ₦120,000, depending on the variety.

According to the President of C&BFPMAN, Kabir Shuaibu, last year’s high prices were a result of poor harvests caused by flooding and other climate-related challenges.

Shuaibu explained, “The main reason for the drop in price is the increase we got from our cultivation. We harvested over 10 times what we usually harvested in the past years.

“You can imagine a farmer who planted a hectare expecting 10,000 bags but ended up with just a few due to flooding. That scarcity caused the spike last year.”

Shuaibu said farmers learned from the hardship and adapted by intercropping beans with corn to maximise yields.

Shuaibu further stated, “Another reason for the surplus is that farmers didn’t take chances this time. While cultivating corn, they also planted beans and cowpeas in the same rows. That method increased harvest and brought down prices.

“A bag of beans in the North now sells between ₦80,000 and ₦120,000, depending on the species. As of this time last year, it was over ₦200,000.

He expressed hope that the trend continues, benefiting both farmers and consumers.

Wholesalers, Consumers React To Falling Prices

Mrs. Esther Umeileka, Managing Director of Fresh2Home Ltd. in Lagos, said the reduced price is not only due to higher yields but also because of improved crop quality.

“Last year, we dealt with insect and weevil attacks. This year, we didn’t experience that. There was less spoilage, and government policies have helped too,” Umeileka said.

At Oyingbo market in Lagos, beans trader Mrs. Zainab Ahmed noted a major boost in patronage.

Ahmed said, “Last year, customers just priced and walked away. A paint bucket of beans sold for ₦13,000 to ₦14,000. Now, it goes for ₦6,000 to ₦7,000. Everyone can afford it again.”

For many Nigerian households, the affordability of beans has brought relief. Mrs. Tonia Sanwo, a consumer, described the staple as a necessity in her home.

Sanwo stated, “We used to buy a small cup for ₦2,000 to ₦2,500 last year. Now it sells between ₦800 and ₦1,000. We’re really glad.”

Another consumer, Mrs. Favour Braye, a civil servant, linked the price drop to improved farm security.

She said, “The price of beans has really dropped in comparison to the prices last year.

“The farmers complained that insecurity on their farms resulted in poor yields the previous year.

“However, with ease of access to their farms, the price of beans has dropped and we are all happy about it. More people can now afford beans as it is a common staple in Nigerians homes.”