WASHINGTON, D.C. (RFD-TV) — Rising energy prices are adding to concerns about fertilizer costs as farmers call for more competition in the market.
More than 170 farmers from 13 states recently gathered in Iowa for a fertilizer hearing focused on prices and market competition. Organizers say fertilizer prices have doubled, and in some cases tripled, since 2020.
USDA Deputy Secretary Stephen Vaden told farmers the department is working to address their concerns and enforce antitrust laws.
Craig Dick with Phospholutions says there is no quick solution to higher fertilizer costs.
“Recently, our government has recognized the need to expand domestic phosphate production. They’ve termed phosphate as a critical mineral, and so, at the end of the day, production alone isn’t enough. We also need to improve the efficiency of how we use phosphorus, and the reason is that we can find new mines of phosphate, we can build new fertilizer plants, but these are billion-dollar infrastructure projects that take many years to develop. In the short term, looking at efficiency technologies that can extend the phosphate resources we have and make them more accessible to the crop and over more acres with that phosphate, is really the best way to lower near-term cost pressures for our farmers.”
Dick warns farmers will likely continue facing higher fertilizer costs for some time.
Lance Lillibridge with the Iowa Corn Growers Association joined us on Wednesday’s Market Day Report to recap the hearing and share what farmers told officials about rising fertilizer costs.
In his conversation with RFD-TV, Lillibridge said producers have been dealing with elevated fertilizer prices for nearly five years and believe a lack of competition in the market is contributing to the problem.
Lillibridge says having government officials meet directly with farmers is important, but producers ultimately want to see action on their concerns.
Looking ahead to harvest, Lillibridge says crops in his area of Iowa are looking good overall, although some nearby areas have suffered significant crop damage.
