Unbelievable! Beans Prices Slashed In Half As Market Sees Historic Drop

The Cowpea and Beans Farmers, Processors, and Marketers Association of Nigeria (C&BFPMAN) has credited the recent significant drop in the prices of beans and cowpeas to an exceptional harvest across key agricultural zones.....KINDLY READ THE FULL STORY HERE▶

In interviews with the News Agency of Nigeria (NAN) on Sunday, stakeholders — including farmers, wholesalers, and consumers — cited improved crop yields, fewer pest infestations, and better farm accessibility as primary factors behind the price plunge.

Just a year ago, the price of a 100kg bag of beans surged to between ₦210,000 and ₦240,000, up from ₦90,000 in 2023. However, by early 2025, prices began to drop steadily. Currently, the same bag sells for between ₦80,000 and ₦120,000, depending on the variety.

According to Kabir Shuaibu, President of C&BFPMAN, the sharp increase in last year’s prices stemmed from poor harvests caused by floods and other climate-related challenges.

“The major reason for the price drop is the bumper harvest we recorded,” Shuaibu explained. “Farmers this season harvested more than ten times what they previously produced.”

He added, “Last year, many farmers expected 10,000 bags per hectare but harvested far less due to flooding. That scarcity drove prices up.”

Learning from the past, farmers adopted intercropping techniques, growing beans alongside corn to boost yield and minimize risk. “This year, many farmers cultivated cowpeas and beans on the same plots as maize. This increased productivity and led to the current surplus, bringing prices down,” he said.

Shuaibu noted that a 100kg bag of beans in the North now ranges from ₦80,000 to ₦120,000 — far lower than last year’s over-₦200,000 price.

He expressed optimism that the trend would continue, to the benefit of both producers and consumers.

Wholesalers and Consumers React to Lower Prices

In Lagos, Mrs. Esther Umeileka, Managing Director of Fresh2Home Ltd., attributed the price decline not only to higher yields but also to better crop quality.

“Unlike last year, when pest and weevil attacks were common, this year we saw little to no damage. The crops were healthier, and supportive government policies made a difference too,” she said.

At Oyingbo Market, beans trader Mrs. Zainab Ahmed observed a spike in sales due to the more affordable prices.

“Last year, a paint bucket of beans went for ₦13,000 to ₦14,000. Today, it’s just ₦6,000 to ₦7,000 — people are buying again,” she noted.

For many Nigerian households, this price drop is a major relief. Mrs. Tonia Sanwo, a consumer, described beans as a staple in her family’s diet.

“Last year, a small cup of beans cost ₦2,000 to ₦2,500. Now it’s between ₦800 and ₦1,000. It’s a welcome change,” she said.

Another consumer, Mrs. Favour Braye, a civil servant, linked the improvement to enhanced security for farmers.

“Last year’s poor yield was blamed on insecurity in farming communities. But with better access to farms now, we’re seeing increased supply and lower prices. It’s a win for everyone.”

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