Soya bean is a nutritious food that many Nigerians incorporate in some of their meals. If you are one of those who value Soya beans and want to know the current price of it, you are in the right place. Read on for more information.
Soya Bean Prices in Nigeria
In most northern states, the average price of #550 is the price of soya beans. The north is popular for the major produce of Soya bean because of their good soil quality and conducive climate changes.
National Price Trends
| Description | Price (Naira) |
|---|---|
| Average National Price (100kg bag) | ₦60,000 |
| Wholesale Price (Per KG) | ₦600 |
| Retail Price (Per KG) | ₦680 |
| Wholesale Price (Per Ton) | ₦600,000 |
| Retail Price (Per Ton) | ₦680,000 |
Factors That Affect The Price of Soya Beans In Nigeria
Some things’s influences the price of Soya beans in Nigeria, and they will be listed below.
Seasonal Production variations: The prices of Soya beans can fluctuate due to seasonal changes.
Economic Situations: The condition of the economy plays a huge impact on the prices of Soya beans.
Supply and Demand: Supply and demand plays a crucial part in the price of Soya beans.
What are the Impact on Producers and Consumers?
The price change of Soya bean do impact the consumers and producers and here is how
Consumers: There are consumers who love soya bean alot, some use it for medicinal or nutritional purposes, if the price rises up it will surely affect the consumers who can’t afford it any more.
Producers: The producers are not left out should the price increases their profit does too, which is a good thing for them.
In Conclusion
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