Domestic Scenario: Soya beans are species of legume widely grown for its edible beans. The plant produces more protein per acre than most other crops. It is therefore a cheap source of protein for both human consumption and animal feed. Soybeans are grown in all the states of Northern Nigeria. It is considered a highly versatile grain with a lot of application for both human and industrial purposes. Subsequently it has a very high demand especially for commercial uses in confectionaries and animal feed industries.
Domestic Production: Nigeria is the largest producer of soybeans in the Sub-Sahara Africa. It provides about 30% of the requirement of animal feed industries in Nigeria. The annual industrial demand of soya beans in Nigeria is about 2,270,700 tons.
Commercialization: Prices of soya beans are usually dictated by market forces of demand and supply. The Return on Investment (ROI) on soya beans trade is put at about 12% to 25%. The major producing areas of Soya beans in Nigeria and their production levels are shown in the chart below.