Sen. Grassley calls on USDA to evaluate fertilizer industry prices

Senator Chuck Grassley is calling on the USDA to issue a report that evaluates the impact of concentration in the fertilizer industry, “to shine a light on the market factors driving high the cost of fertilizer.” Grassley and Iowa’s other Republican Senator, Joni Ernst, are co-sponsoring a bill on the topic with Democratic senators from Wisconsin and Georgia.  The bill would require the USDA to produce a report within a year and review all the factors that are influencing price spikes in fertilizer costs. Phosphate prices in August were 36% higher than in January and the price of potash, a key component in fertilizer, is rising as well. Trade disputes are influencing fertilizer costs as well. China quit exporting phosphate fertilizers in late 2021. This year, 36% of the operating costs for a traditional row-crop farm will be spent buying fertilizer according to USDA projections.