Why Beans Price Bloated In Nigeria – CFAN

The recent surge in bean prices in Nigeria, reaching over N200,000 per 100kg bag, has raised concerns among consumers and farmers. The Cowpea Farmers Association of Nigeria (CFAN) attributes this to decreased production due to herders’ invasion of farmlands, high agricultural input costs, and increased exportation driven by naira devaluation. Efforts are being made to address these issues, resulting in a gradual price drop. Additionally, the International Institute for Tropical Agriculture (IITA) is improving bean production through a workshop on enhancing seed quality and access for smallholder farmers. Source: Daily Trust

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The surge in bean prices in Nigeria, now exceeding N200,000 per 100kg bag, has alarmed consumers and farmers alike. Key factors include reduced production due to herder invasions, high input costs, and increased exportation driven by naira devaluation. This has led to a severe supply-demand imbalance, pushing prices to unprecedented heights. The Cowpea Farmers Association of Nigeria (CFAN) is addressing these issues, with efforts already leading to a slight price drop.

Additionally, the International Institute for Tropical Agriculture (IITA) is improving bean production through workshops focused on seed quality and access to inputs, which should help stabilize prices. These interventions are crucial for ensuring food security and economic stability. By resolving production bottlenecks and enhancing supply chains, stakeholders can mitigate price volatility and ensure that beans remain affordable for Nigerian consumers.