By Esther Nwabueze and Mercy Omoike
The rising price of beans in Lagos is forcing consumers to buy less, switch meals and adjust household budgets.
Traders and consumers expressed concern over the development in separate interviews with the News Agency of Nigeria (NAN) on Friday in Lagos.
NAN reports that a derica of beans currently sells for between N1,200 and N1,300 in Lagos, compared with N500 to N800 between April and June.
The development has affected household consumption, with some consumers reducing their purchases and turning to cheaper alternatives such as rice, garri and spaghetti.
Mr Monday Chukwu, a beans seller on Olaogun Street, Costain, attributed the price increase to seasonal factors rather than shortage or distribution challenges.
Chukwu said only traders who stored beans during the first production period usually benefited when prices increased during the off-season.
“It would only take about three months for everything to return to normal,” he said.
He described the development as a usual occurrence that happens every year, adding that consumers were beginning to understand the situation, in spite of their dissatisfaction.
Chukwu said a 50kg bag of beans, which sold for N125,000 in April, had increased to N160,000 in August.
He said the increase had made it difficult for some consumers to continue buying beans in their usual quantities.
A bean cake (akara) trader at St. Paul Primary School, Costain axis, Mrs Okorie, said traders now needed wisdom and strategy to remain in business.
Okorie said a cup of beans previously sold for N200 now costs N250, with traders also reducing the quantity because of the increased cost.
“The size of the bean cake makes consumers dissatisfied and aggrieved,” she said.
Mr Amos Ogbonna, a wholesale trader at Oyingbo Market, also attributed the increase to the off-season, saying prices could continue rising.
Ogbonna said he used dry pepper as a preservative to protect his stored beans from spoilage.
He said in spite of the price increase, he had continued buying in his usual quantity because customers understood that the fluctuation was beyond his control.
Mrs Mary Chigozie, a consumer in Lagos, said the increase had made it difficult for her household to maintain its previous level of beans consumption.
Chigozie, who said her household enjoyed beans, said she had reduced her purchase because of the rising cost.
She said sellers added as much as N500 to the previous price in August, making the staple increasingly unaffordable for her family.
“It could be a seasonal default,” she said.
Chigozie expressed dissatisfaction with the speed of the price increase, saying it had forced her to consider alternatives such as rice, garri and spaghetti.
NAN further reports that the price increase has also affected traders’ purchasing patterns, with some reducing their bulk purchases to smaller quantities.
The development has also affected consumers’ buying frequency, as some now purchase beans less frequently because of the higher prices.
Mrs Christabel Esezua, a trader on Ibadan Street, however, said the increase had not stopped her from purchasing beans in large quantities.
“I still buy in large quantities,” she said.
Esezua said her customers understood the nature of the business and knew that prices fluctuated because beans had no permanent price.(NAN)(www.nannews.ng)
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Edited by Chinyere Joel-Nwokeoma