The weak mechanization of the agricultural sector as well as the weakness of the local currency to support importation has triggered a rise of more than 70% in the price of beans across the country, a survey by LEADERSHIP Weekend has revealed.
In the main markets of Lagos, Ogun, Oyo, Abuja, among other parts of the country, the price of beans has increased astronomically in recent months.
Our results revealed that a small bag of honey and white beans, which was previously sold at 7,500 N is now sold at 45,000 N while the large bag previously sold at 15,000 N now fluctuates between 90,000 and 100,000. NOT.
Likewise, a derica (large can of tomatoes) of beans sold earlier in the year at 200N is now at 700N.
Although insecurity contributed to the bean shortage that triggered the price, poor mechanization and weak local currency were also identified as key determinants of the price spike.
Speaking on this development, All Farmers Association of Nigeria (AFAN) President Arch. Kabir Ibrahim, attributed it to the lack of mechanization to improve production and the weakness of the local currency to support importation.
Ibrahim said that because the demand gap is so huge, the cost has continued to rise as insecurity has forced farmers to leave their farms.
According to the president of AFAN, there is a local demand deficit of about 500,000 metric tonnes.
He said local demand for beans exceeds 1 million metric tons and local farmers cannot meet half of that demand.
Ibrahim, however, said that with the new genetically modified variety, Nigeria would now have the chance and the opportunity to optimize production.
According to him, it is up to farmers to adopt this new variety and ignore the speculated argument about its health implications.
Ibrahim challenged those who make such claims to provide scientific evidence for his health problems.
LEADERSHIP Weekend previously reported that in 2019, after a decade of research, field testing and confirmation of biosafety, Nigeria approved the registration and commercialization of a new genetically modified cowpea (beans) in Nigerian farmers.
The GM bean called SAMPEA 20-T has been genetically modified to resist a pest known as pod borers or maruca vitrata.
Ibrahim, in his argument, said farmers should rise to the challenge and engage in commercial production of these new GM beans.
The AFAN president said there was no basis for strong resistance and opposition to accepting the beans, adding that this had contributed to the shortages faced today.
Meanwhile, LEADERSHIP has been touring some markets to inquire about the current price of beans.
Maman Chiamaka who sells Akara in front of the Oja retail market in the Jakande area, Isolo lamented the sudden rise in the price of beans.
She complained to our correspondent that a small bucket of beans that previously sold between 2,500 and 2,700 n is now selling between 3,700 and 4,000 n. She said she is now doing less quantity and that her Akara is now sold as a small pair for N50 versus three for the same amount.
Pius Alade, a consumer, lamented that a big bag of beans is now sold for 100,000 naira, “although I don’t buy a bag, but it comes back to us as the end consumer.”
At Ikeja, a seller of Akara (bean cake), Oruhu said on Monday: “For me, from October 9 of this year, that is, tomorrow, I will stop selling Akara for the moment until the price drops because I’m lost.
“We have different types of beans, like Oloyin (honey) and drum beans, which we previously buy at the price of N5000 and N7500 while the big bag is N15,000. But now the little bag is N45,000. Where is Nigeria going? In 2018 the little bag was 5,000 N and now it is 45,000 N. Where is Nigeria going? People are complaining about the quantity and it’s because we had to reduce the quantity we sell because I used gas, peanut oil, pepper, onions and salt to make it spicy, and all of that is taken into account.
According to Iyaloja, FAAN Market, Ikeja, Afusat Shehu, “I am not joking with beans now because a small bag of beans is now sold for 48,000 and the small amount of derica is now 700 N. Before now it is sold for N200 even at the time of the corona virus lockdown, it was still N150 and we had a partial lockdown, it was sold for N200, and from there it has continued to increase until now who is sold for N700