Beans Price Crashes by Over 100% as Farmers Record Bumper Harvests
By: Israel Adeleke
OPEN TELEVISION NAIJA (OTN) News reports that, according to the Cowpea and Beans Farmers, Processors, and Marketers Association of Nigeria (C\&BFPMAN), the price of beans in Nigeria has plummeted by more than 100% following a significant increase in harvest yields.
OTN News further reports that, the president of the association, Mr. Kabir Shuaibu, alongside other stakeholders, who disclosed this while speaking with the News Agency of Nigeria (NAN) on Sunday in Lagos, attributed the sharp decline in price to an unprecedented boost in agricultural output, improved farming strategies, and reduced crop infestation.
According to the body, as recently as mid-2024, the price of a 100kg bag of beans soared to between N210,000 and N240,000, largely due to poor harvests and flooding the year before.
However, by the first quarter of 2025, prices began to fall steadily, with the same quantity now selling for between N80,000 and N120,000, depending on the species and region.
“We are glad the price of beans and cowpeas has dropped since the harvest from last year. We harvested over 10 times what we usually got in previous years."
“This implies that with the increased supply of the produce, the prices will drop,” Shuaibu stated.
He explained that in some regions, a hectare of land now produces three times the usual volume, thanks in part to intercropping strategies where farmers planted beans alongside corn.
“Farmers didn’t take chances this time. They planted beans and cowpeas in between their main crops, and the results were exceptional,” he added.
Speaking, Managing Director of Fresh2Home Ltd. in Lagos, Mrs. Esther Umeileka, also pointed to a decrease in pest infestation and better adherence to government agricultural policies as contributors to the improved harvest.
She said, “This year, we had less weevil attack, and the yields were quite high."
Also, market traders echoed similar sentiments, noting that consumer purchasing power has risen in response to the more affordable pricing.
At Oyingbo market, Mrs. Zainab Ahmed noted that the price of a paint bucket of beans now ranges between N6,000 and N7,000, compared to N13,000 to N14,000 last year.
“Customers used to walk away after hearing the price. Now, many can afford to buy beans again for their households,” she said.
Consumers have also welcomed the change with relief. Mrs. Tonia Sanwo, a regular buyer, described beans as an “essential staple” in her household. “Last year, we were buying a small cup for N2,000 to N2,500. Now, it’s N800 to N1,000 depending on the type,” she said.
Civil servant Mrs. Favour Braye attributed the bumper harvest to improved access to farms, noting that security challenges in previous years had hindered cultivation.
“Now that farmers can access their lands, we are all benefiting. Beans are affordable again,” she remarked.
OTN News, however, observes that, with beans being a vital part of the Nigerian diet, the price crash has brought much-needed economic relief to households already struggling with food inflation.
Stakeholders in the sector hope that continued investments in farming techniques, pest control, and rural security will sustain the positive trend in harvests and pricing.
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