Prices of beans, Nigeria’s cheapest plant protein source has significantly reduced by 37 percent as farmers of the legume recorded bumper harvest.
The average price of 100kg bag of beans sells for N190,000 as against N300,000 sold last year, according to BusinessDay’s market survey.
Similarly, a painter of beans currently sold for an average of N8,000 as against N14,500 last year, indicating a 45 percent decrease in price.
A beans farmer in Kaduna, Kabir Shuaibu said that farmers’ yield tripled during the last harvest and this is the reason for the reduction in the price of beans and high beans supply in the markets.
“The yield farmers had this year is triple of what we had last year. A piece of farmland that yielded about 10 bags of beans now does 30 bags. This is because of the bumper harvest,” he said.
He added "Although harvest season has now passed, farmers have beans in surplus and will continue to sell at a cheaper rate until the end of June.”