The Cowpea and Beans Farmers, Processors, and Marketers Association of Nigeria (C&BFPMAN) has highlighted high harvest yields, among other factors, as the reasons 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 of the second and third quarters of 2024, the price of beans increased significantly to between N210,000 and N240,000 for 100kg, compared to N90,000 in 2023.
However, from the first quarter of 2025, the produce witnessed a steady decline in its price.
A bag of 100kg currently sells between N80,000 and N120,000, depending on the species.
Speaking on the reasons for the drop in the price of the produce, Mr. Kabir Shuaibu, C&BFPMAN President, stated that the increased harvest from cultivation is 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 the increased supply of the produce, the prices will drop.
“The reason for the hike in the price of beans last year was due to the poor harvest in the previous year.
“You can imagine a farmer who planted a hectare of land and expected 10,000 bags of beans but was only able to harvest and could only get a few bags due to flooding.
“The situation of beans hike we witnessed last year was one we had not experienced in the sector for the past 10 years. We hope it does not recur,” Shuaibu said.
He noted that in the most recent harvest of beans and cowpeas, a hectare of land produced triple its usual harvest of 10,000 bags, hence the crash in the price of the produce.
“Another reason for the surplus in the harvest of beans this year is that farmers did not take chances. While cultivating corn, they also planted beans and cowpeas along the rows, resulting in an increased harvest and a subsequent drop in the price of the produce.
“Currently, a bag of beans up North costs between N80,000 and N120,000 depending on the species you are buying. As of this time last year, due to the poor harvests, the same bag sold between N210,000 and N240,000.
“We do hope for continued increased harvest in the sector as it benefits both the farmers and the consumers,” he told NAN.