Lagos State foodstuff traders and consumers are celebrating a welcome relief as the price of beans has taken a significant dip. In separate interviews with the News Agency of Nigeria, residents expressed their joy over the drop in the price of the produce.
The price of beans, which had skyrocketed to as high as N150,000 to N140,000 per 100kg bag in previous months, has dropped to around N100,000 from N120,000 per bag, depending on the species.
Mr. Yakubu Ahmed, a foodstuff trader at Agege market, attributed the price drop to the recent harvest of beans. “We’ve witnessed a slight drop in the price of beans for about two weeks now. The fresh harvest of beans up North has brought a little respite to consumers.”
Ahmed revealed that the price of a paint bucket of honey beans (oloyin) has dropped from N12,000 to N8,000 to N9,000. The drum species now sells at N8,000, down from N11,000, while mini honey beans sell at N6,500, down from N8,500.
Another trader, Mr. John Nwabueze, at Iyana-Ipaja, acknowledged the price drop but expressed uncertainty about the reason behind it. “We can’t say what brought the price of beans down, as we don’t know why it suddenly hiked months ago.”
The price reduction may not be drastic, but it’s a welcome relief for consumers, and traders are optimistic that the trend will continue.
