Why beans price bloated in Nigeria

Published 2024년 6월 20일

Tridge summary

The price of beans in Nigeria has surged to over N200,000 per 100kg bag, causing concern among consumers and farmers. The Cowpea Farmers Association of Nigeria (CFAN) cites reduced production due to herders' invasions, high agricultural input costs, and increased exportation driven by naira devaluation as key factors. Efforts to address these issues include CFAN's initiatives leading to a slight price drop and research by the International Institute for Tropical Agriculture (IITA) to improve beans production through better access to quality seeds and agro inputs.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The recent high cost of beans experienced in the country which has sent panic across the nation has been an issue that dominates almost every platform of discussion. It was gathered that the price of beans has reached the highest price ever recorded in Nigeria, and that has generated a serious concern to consumers, as well as farmers. Producers of beans have attributed the recent high price to some notable factors that have affected production in the country. However, the Cowpea Farmers Association of Nigeria (CFAN) revealed that moves were currently being made to see that the issues identified were rectified. Malam Sale Maigari Tunfafi, Kano State deputy chairman of CFAN, said the high cost of beans being experienced in the nation recently was the aftermath of several issues, noting that the issues didn’t affect beans only, but that the beans issue was the worst. He, however, said that with the association’s move the price had started dropping. He explained that one of the ...

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