Beans are changing hands at noticeably different prices across Nigeria’s markets, with prices reported from Taraba State showing a clear discount to those recorded in Suleja, Niger State.
The latest price checks available to BuyerMetrics show that Honey, Iron, Oloyin, Potasco and Akara/Moi-moi beans are all selling for more in Suleja than at the Taraba source market.
The comparison points to the value created between the producing area and a major destination market, although the price difference should not be treated as trader profit because transportation, handling, storage and other costs are not included.
The price gap
In Taraba, the reported price for a 100kg bag is ₦130,000 for Honey Beans, compared with ₦155,000 in Suleja.
Iron Beans are reported at ₦130,000 per 100kg bag in Taraba, against ₦145,000 in Suleja.
The largest gap among the comparable varieties is seen in Oloyin beans. The Taraba list gives ₦125,000 for a 100kg equivalent, while Suleja is at ₦160,000 per bag, creating a difference of about ₦35,000 per bag.
Potasco beans show a much narrower spread. The Taraba price is about ₦125,000 per 100kg, compared with ₦130,000 in Suleja.
Akara/Moi-moi beans are also higher in Suleja at ₦140,000, compared with about ₦125,000 per 100kg in the Taraba source market.
| Bean variety | Taraba source price | Suleja price | Approx. gap |
| Honey | ₦130,000 | ₦155,000 | ₦25,000 |
| Iron | ₦130,000 | ₦145,000 | ₦15,000 |
| Oloyin | ₦125,000 | ₦160,000 | ₦35,000 |
| Potasco/Patapsco | ₦125,000 | ₦130,000 | ₦5,000 |
| Akara/Moi-moi | ₦125,000 | ₦140,000 | ₦15,000 |
*Taraba’s Oloyin listing was ₦115,000 for a 90kg bag, equivalent to about ₦128,000 per 100kg. The table uses the rounded comparison figure of about ₦125,000 based on the reported big-bag range for the variety.
Oloyin stands out
Oloyin currently has the widest reported difference between the two markets.
At ₦160,000 per bag in Suleja, buyers are paying substantially more than the equivalent source-market price reported in Taraba.
This could reflect the cost of moving beans from producing areas to consumption markets, as well as differences in quality, availability, demand and market conditions.
It also shows why the location of a commodity purchase can matter almost as much as the commodity itself.
Taraba source market remains cheaper
The Taraba list covers several bean varieties and shows prices ranging from roughly ₦125,000 to ₦135,000 for 100kg bags among the varieties comparable with Suleja.
Brown beans are among the more expensive varieties in the Taraba listing at ₦135,000 per 100kg, while several varieties, including Akara, Bosup, Brown/Oloyin and Patapsco, are around ₦125,000 per 100kg.
Kampala Honey and Brown beans are also reported at about ₦135,000 per 100kg.
The Taraba supplier notes that prices are flexible and negotiable depending on quantity demanded, meaning larger-volume buyers may be able to secure prices below the quoted levels.
BuyerMetrics Market Watch
The latest prices suggest that beans remain a market where geography can create significant price differences.
For farmers and aggregators in producing areas, the Suleja prices highlight the potential value of connecting directly with destination markets.
For traders, the key question is whether the market spread is large enough to cover transportation, loading, storage, losses, financing and other transaction costs.
For buyers, the comparison provides a reminder that quoted market prices can vary substantially depending on where the commodity is purchased.
BuyerMetrics will continue to track these differences as more market-level prices become available.
More Informationn
While is no standard figure of volume of beans produced in Nigeria, estimates range between 500,000 tons and 3.5 million metric tons per year depending on data tracking and seasonal output.
The production volume falls below local demand resulting in import bill of about Approximately N16 billion per year.
Import comes from neighboring countries like Niger, Cameroon, and Burkina Faso
