Beans Price Drop Brings Joy to Lagos Residents Amid Harvest Season
In a heartening turn of events, food traders and consumers across Lagos are celebrating a notable reduction in the price of beans. As the city embraces the recent harvest season, prices have dipped from exorbitant rates that had plagued traders and consumers for months.
Over the past few months, the cost of beans soared to staggering heights, with a 100kg bag reaching prices of N150,000 to N140,000 due to supply shortages. However, recent reports show that prices have now retreated to more manageable levels, landing between N100,000 and N120,000, depending on the particular variety of beans. This welcome news has sparked relief among residents, who are keen to fill their kitchens once more.
Foodstuff trader Yakubu Ahmed from Agege Market shared his observations on the price decrease. “Just a few weeks ago, a paint bucket of honey beans (oloyin) was being sold at N12,000, but it has now seen significant reductions, with prices dropping to between N8,000 and N9,000,” Ahmed explained. Notably, he highlighted a similar trend with drum beans, which previously sold for N11,000 but now stand at around N8,000.
At Iyana-Ipaja, trader John Nwabueze noted a steady decline in prices, albeit with some uncertainties surrounding the decrease. “Three months ago, we bought a bag of beans for as high as N140,000, but the price now ranges from N100,000 to N120,000,” he remarked.
The price relief is palpable. Cornelia Edet, a local resident, expressed her delight seeing price tags dropping in her neighborhood market. “Last week, I was thrilled to buy a paint bucket of honey beans for N10,000 instead of N16,000,” she said, highlighting how this change may make meal planning more affordable for families.
In another neighborhood, Sandra Obalelenge reported a similar experience. “I bought a paint bucket of beans for N10,500 just two weeks ago; I’m happy to see the latest prices between N7,500 and N8,000. I plan to restock quickly before any potential price increases,” she mentioned.
This price drop arrives as a ray of hope amidst challenging economic times, fueling optimism among consumers who heavily rely on beans as a staple in their diets. It is anticipated that the ongoing harvest season will continue to stabilize the bean market in Lagos, providing not just relief, but also a chance for families to enjoy this nutritious food at more accessible prices.
As these fluctuations occur, Lagos showcases the resilience of its agricultural sector and the power of seasonal harvests in influencing market dynamics.
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